NAFTA Renegotiation

NAFTA Renegotiation refers to the process where the United States, Canada, and Mexico reviewed and revised the North American Free Trade Agreement to update its provisions. Initiated by the U.S. in 2017 under the Trump administration, the goal was to modernize rules around trade, labor, intellectual property, and environmental standards, ensuring fairer competition and economic benefits for all three countries. After negotiations, the updated agreement was called the USMCA (United States-Mexico-Canada Agreement) and officially replaced NAFTA in 2020, aiming to create a more balanced and modern trade framework for North America.