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NAFTA (North American Free Trade Agreement) - Coggle Diagram
NAFTA (North American Free Trade Agreement)
How does it work
NAFTA worked by removing tariffs and trade barriers between the United States, Canada, and Mexico, making it cheaper and easier to trade goods and services.
It allowed businesses to sell products across borders without extra taxes, boosting trade and economic growth.
It also set rules for fair competition, protecting companies and workers in all three countries.
What is it?
NAFTA (North American Free Trade Agreement) was a trade agreement between the United States, Canada, and Mexico, established in 1994 to eliminate tariffs and encourage free trade.
It helped increase trade and economic cooperation among the three countries but also led to some job shifts.
In 2020, NAFTA was replaced by the USMCA (United States-Mexico-Canada Agreement) with updated trade rules.
Who are they?
NAFTA was an agreement between the United States, Canada, and Mexico to promote free trade.
It removed tariffs and trade barriers to make business easier between the three countries.
In 2020, NAFTA was replaced by USMCA, which updated trade rules.
What is their role/job
NAFTA’s role was to make trade easier between the United States, Canada, and Mexico.
This helped economies grow, created jobs, and made products more affordable.
Why is it important
NAFTA was important because it boosted trade between the United States, Canada, and Mexico by removing extra costs like tariffs.
It helped businesses grow, created jobs, and made goods cheaper for consumers. By strengthening economic ties, it also improved relationships between the three countries.
Who Parteciptes
NAFTA included the United States, Canada, and Mexico as its participating countries.
Its job was to remove tariffs, reduce trade barriers, and create fair trade rules so businesses could sell goods more freely.
What is it's relationship with Canada?
NAFTA's relationship with Canada was that it allowed Canada to trade more easily with the United States and Mexico by eliminating tariffs and trade barriers.
It strengthened Canada's economy by giving it access to larger markets and encouraging investments.
. As a result, Canadian businesses grew, and Canadian consumers had access to cheaper goods from its neighbors.