A. North American Free Trade Authority
B. North American Free Trade Agreement
C. North American Free Trade Administration
D. None of these
🧠 Explanation:
NAFTA, the North American Free Trade Agreement, was a 1994 pact between the U.S., Canada, and Mexico to promote trade by reducing tariffs and barriers. It facilitated economic integration, boosting cross-border commerce in goods like automobiles and agriculture. Replaced by the USMCA in 2020, NAFTA significantly shaped North American economies, increasing trade volumes but sparking debates over job losses and wage impacts. Its legacy lies in demonstrating the power of regional trade agreements to drive economic growth, while highlighting challenges in balancing national interests, making it a key study in global economics.
