The North American Free Trade Agreement (NAFTA)

The North American Free Trade Agreement (NAFTA), implemented in 1994, is a treaty between Canada, Mexico, and the United States that aimed to reduce barriers like tariffs and import taxes. By promoting free trade, it encourages the exchange of goods and services across borders, boosts economic growth, and creates jobs. NAFTA also included rules to protect intellectual property and set standards for investment. In 2020, it was replaced by the United States-Mexico-Canada Agreement (USMCA), which updated and modernized these provisions to reflect contemporary trade issues.