Free Trade Agreement of the Americas (FTAA)

The Free Trade Agreement of the Americas (FTAA) was a proposed economic agreement intended to eliminate or reduce trade barriers—like tariffs and import taxes—among 34 countries in the Americas, from Canada to Argentina. Its goal was to promote economic growth by making it easier for businesses to buy and sell goods and services across borders, encouraging investment and competition. The FTAA aimed to create a large, integrated market, boosting prosperity for participating nations. However, negotiations faced challenges and it was never fully finalized or implemented, with some countries expressing concerns over impacts on local industries and sovereignty.