This is one of two papers commissioned by the International Agricultural Trade Research Consortium on various aspects related to the agricultural sector of a prospective North American Free Trade Agreement. The companion paper to this one has been prepared by a working group chaired by Thomas Grennes, North Carolina State University. To minimize duplication with the Grennes paper, this paper has given greater attention to the general trade policy issues raised by a NAFTA, institutional factors, additional commodity detail in cereals, fruit and vegetables, and the relevance of other regional trade agreements such as the Canada-U.S. Trade Agreement. This work has also benefitted from an earlier report and its annexes, prepared for the Fraser Institute, under the direction of Tim Josling.