What does NAFTA stand for?

NAFTA stands for North American Free Trade Agreement. This agreement was established to promote trade and economic cooperation between the United States, Canada, and Mexico. It aimed to eliminate tariffs and other trade barriers, facilitating a more seamless exchange of goods and services among the three countries. The significance of NAFTA lies in its role in increasing economic integration in North America, benefiting various industries and consumers by providing access to a larger market.

The other options do not accurately reflect the recognized name or purpose of the agreement. Thus, the correct answer encapsulates the foundational goal of enhancing trade relations in North America through the removal of economic barriers.