SSC MTS EXAM

Detailed explanation-1: -The goal of NAFTA was to eliminate barriers to trade and investment between the U.S., Canada and Mexico. The implementation of NAFTA on January 1, 1994, brought the immediate elimination of tariffs on more than one-half of Mexico’s exports to the U.S. and more than one-third of U.S. exports to Mexico.

Detailed explanation-2: -North American Free Trade Agreement (NAFTA) established a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAFTA immediately lifted tariffs on the majority of goods produced by the signatory nations.

Detailed explanation-3: -U.S. – Mexico – Canada Agreement (USMCA)

Detailed explanation-4: -The NAFTA has created jobs for American workers by expanding access to U.S. goods and services in the Mexican and Canadian markets. In 1996, jobs supported by the export of U.S. goods to Mexico and Canada increased by an estimated 311, 000 to 2.3 million from 1993 (pre-NAFTA).