The North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA), in effect from 1994 to 2020, was a treaty between the U.S., Canada, and Mexico designed to eliminate trade barriers like tariffs and import quotas. Its goal was to promote free trade and economic growth among the three countries by making it easier and cheaper to buy and sell goods and services across borders. NAFTA aimed to boost employment, investment, and competitiveness while fostering closer economic ties. In 2020, it was replaced by the United States-Mexico-Canada Agreement (USMCA), which updated and modernized many of its provisions.