A manufacturing operation at the U.S.-Mexican border, usually comprising two plants on either side of the border, designed to capitalize on free trade benefits, low Mexican wages, and U.S. distribution facilities.
The North American Free Trade Agreement (NAFTA) was a trilateral trade agreement between Canada, Mexico, and the United States aimed at reducing trade barriers and promoting economic growth. It was replaced by the United States-Mexico-Canada Agreement (USMCA) in 2020.
The North American Free Trade Agreement (NAFTA) is a trade deal that dramatically impacts trade, investment, and social standards among the United States, Mexico, and Canada by eliminating tariffs and quotas on most goods exchanged among these countries.
Twin Plants, or maquiladoras, refer to manufacturing facilities in Mexico often employed by U.S. companies for their cost-effective labor and proximity to the U.S. market.
