North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) was a trade deal signed in 1994 between the United States, Canada, and Mexico. Its main goal was to eliminate barriers to trade and investment between the three countries, making it easier for businesses to operate across borders. NAFTA aimed to boost economic growth by increasing trade volumes and promoting fair competition. In 2020, it was replaced by the United States-Mexico-Canada Agreement (USMCA), which updated many provisions while maintaining the original intent of fostering economic cooperation and trade among the three nations.