North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) was a trilateral trade bloc in North America between Canada, Mexico, and the United States, signed on December 17, 1992, and took effect on January 1, 1994. The agreement aimed to eliminate barriers to trade and investment between the three countries, resulting in the elimination or reduction of trade and investment barriers. Economists generally agreed that NAFTA had a positive impact on the North American economies and the average citizen, but harmed a small minority of workers in industries exposed to trade competition. In 2017, US President Donald Trump began negotiations to replace NAFTA with the United States-Mexico-Canada Agreement (USMCA), which was signed in 2018 and took effect on July 1, 2020, replacing NAFTA.learn more on wikipedia