Which trade agreement, established in 1994, aimed to eliminate barriers to trade among the US, Canada, and Mexico?

Which trade agreement, established in 1994, aimed to eliminate barriers to trade among the US, Canada, and Mexico?

• A. WTO
• B. EU
• C. NAFTA
• D. USMCA

Answer: (C)

The trade agreement established in 1994 that aimed to eliminate barriers to trade among the US, Canada, and Mexico is indeed NAFTA, which stands for the North American Free Trade Agreement. This agreement was designed to promote trade by reducing tariffs and other trade barriers, thereby fostering economic cooperation and expanding trading opportunities among the three countries. NAFTA played a significant role in increasing trade volume and creating a more integrated North American economy. It laid the groundwork for a more vast and cooperative trading environment, allowing businesses to operate with fewer restrictions across the borders of the three nations. Although it has since been replaced by the United States–Mexico–Canada Agreement (USMCA) in 2020, NAFTA was pivotal in shaping trade policies in North America during its existence. The other options, such as the WTO and EU, refer to different trade and economic frameworks unrelated to the specific trilateral agreement formed between the US, Canada, and Mexico during that period.

The trade agreement established in 1994 that aimed to eliminate barriers to trade among the US, Canada, and Mexico is indeed NAFTA, which stands for the North American Free Trade Agreement. This agreement was designed to promote trade by reducing tariffs and other trade barriers, thereby fostering economic cooperation and expanding trading opportunities among the three countries.

NAFTA played a significant role in increasing trade volume and creating a more integrated North American economy. It laid the groundwork for a more vast and cooperative trading environment, allowing businesses to operate with fewer restrictions across the borders of the three nations. Although it has since been replaced by the United States–Mexico–Canada Agreement (USMCA) in 2020, NAFTA was pivotal in shaping trade policies in North America during its existence.

The other options, such as the WTO and EU, refer to different trade and economic frameworks unrelated to the specific trilateral agreement formed between the US, Canada, and Mexico during that period.