North America Free Trade Agreement (NAFTA)

The North American Free Trade Agreement (NAFTA) was a trade agreement established in 1994 between the United States, Canada, and Mexico. Its main goal was to eliminate tariffs and other trade barriers, making it easier and cheaper to trade goods and services among the three countries. By promoting economic cooperation, NAFTA aimed to boost economic growth, increase exports, and create jobs. In 2020, NAFTA was replaced by the United States-Mexico-Canada Agreement (USMCA), which updated and revised the terms of trade to reflect changes in the economy and to address modern trade issues.