North American Free Trade Agreement (NAFTA) (January 1, 1994)

          NAFTA is a trade agreement signed by United States, Mexico, and Canada that formed three trade alliances between them. Its function is to eliminate trade barriers and tariffs between U.S., Mexico, and Canada. 10 years after the signing the agreement, almost all the tariffs between Mexico and United States were eliminated. Also, NAFTA's function is to eliminate non-tariff trade barriers and to protect the intellectual property right of the products. All in all, NAFTA made balances in trades across three nations.