NAFTA was created to remove barriers to trade and investment between the United States, Canada and Mexico. With the implementation of NAFTA, tariffs on more than half of Mexico`s exports to the United States and more than a third of the United States were immediately eliminated. Exports to Mexico. Within 10 years of implementation, all U.S.-Mexican tariffs would be eliminated, with the exception of some U.S. agricultural exports, which are expected to expire within 15 years. NAFTA also aims to remove non-tariff barriers and protect the intellectual property rights of products. Discussions have recently been announced on a new transatlantic trade agreement between the United States and the European Union. The agreement would reduce barriers to trade in goods and services worth more than half a trillion euros already circulating between the two regions. Supporters of the free trade agreement say it will help strengthen both economies by facilitating the supply of U.S. government contracts for EU businesses and freeing up investment capital for small and medium-sized enterprises. There are concerns, however, that interest in multilateral WTO negotiations will be denied, given that one-third of world trade is governed by the agreement. Meanwhile, agricultural trade remains a controversial area, with the two regions unlikely to agree on a policy change. It remains to be seen whether the potential „tens of thousands of new jobs“ will help both economies recover or widen the existing inequality gap (Deutsche Welle).

The conflict between free trade in industrial products and services, but continued protectionism in agricultural subsidies to the domestic agricultural sector (requested by industrialized countries) and the justification for international liberalization of fair trade in agricultural products (requested by developing countries) remain the main obstacles. These points of disagreement have hindered any progress in opening new WTO negotiations beyond the Doha Development Round. While the United States and eight pacific peripheral countries are negotiating the Trans-Pacific Partnership (TPP) free trade agreement in San Diego, critics say the TPP is primarily about new business rights, not trade.