Trade Agreements (NAFTA, USMCA)

Trade agreements like NAFTA (North American Free Trade Agreement) and its successor, USMCA (United States-Mexico-Canada Agreement), are pacts between countries that set rules to facilitate easier commerce across borders. They aim to reduce tariffs, remove trade barriers, and establish fair regulations, promoting economic growth and cooperation among member nations. These agreements help businesses access larger markets and encourage investment, benefiting consumers with more choices and competitive prices. USMCA updated NAFTA to better address digital trade, labor standards, and environmental protections, reflecting evolving economic realities among the U.S., Canada, and Mexico.