Under NAFTA, Canada, Mexico, and the U.S. will have a common external tariff that they will apply to all nonmember countries.

Question

Quizplus · Accepted Answer

NAFTA, or the North American Free Trade Agreement, aimed to eliminate barriers to trade and investment between Canada, Mexico, and the U.S., but it did not establish a common external tariff for nonmember countries. Each country maintains its own tariffs for countries outside the agreement.