describe US international trade policies such as NAFTA
The North American Free Trade Agreement (NAFTA) was implemented in 1994 to encourage trade between the U.S., Mexico, and Canada. NAFTA reduced or eliminated tariffs on imports and exports between the three participating countries, creating a huge free-trade zone. This agreement was signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America which sought to eliminate non-tariff trade barriers and to protect the intellectual property right of the products. NAFTA boosted trade by eliminating all tariffs between the three countries. It also created agreements on international rights for business investors. That reduced the cost of commerce. It spurs investment and growth, especially for small businesses.