Development of regional organisations, excluding the EU (Edexcel A-Level Politics): Flashcards

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North American Free Trade Association (NAFTA)
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Year NAFTA established

1994

NAFTA acronym meaning

North American Free Trade Agreement

NAFTA member countries

United States, Canada, and Mexico

Primary goal of NAFTA

Reduce/eliminate trade barriers and tariffs

Key sectors targeted by NAFTA

Textiles, agriculture, and automobiles

Year USMCA replaced NAFTA

2020

USMCA acronym meaning

United States-Mexico-Canada Agreement

NAFTA regional trade: 1994 vs 2016

290billionto290 billion to 1.1 trillion

U.S. jobs lost per year under NAFTA

15,000

Type of integration NAFTA focused on

Economic functionalism

Canada's agricultural yield change under NAFTA

Tripled

NAFTA's dispute resolution feature

Mechanism to address trade disputes between members

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