What is NAFTA primarily known for?

NAFTA, or the North American Free Trade Agreement, is primarily known for being a trade agreement that encourages free trade among the United States, Canada, and Mexico. Implemented in 1994, NAFTA aimed to reduce or eliminate tariffs on goods traded between the three countries, promoting increased economic integration and trade collaboration. It facilitated a significant growth in trade volume and helped to create a more competitive environment for North American businesses by allowing them to operate across borders with fewer restrictions.

The agreement also aimed to enhance market access, stabilize trade relations, and encourage investment by providing a framework for economic cooperation in the region. By supporting the free flow of goods and services, NAFTA marked a significant shift towards trade liberalization in North America.