North American Free Trade Agreement

Explanation :

• The North American Free Trade Agreement, or NAFTA, is a trade pact signed by the U.S.A, Canada and Mexico, which made it easier for companies in those three countries to move goods and supplies across North America’s borders.
• The agreement took effect on January 1, 1994, and essentially eliminated tariffs on most goods traded among the three nations.
• The United States Mexico Canada Agreement (USMCA) is an updated version of the nearly 25-year-old, trillion-dollar North American Free Trade Agreement (NAFTA). It includes major changes on cars and new policies on labor and environmental standards, intellectual property protections, and some digital trade provisions.
• The USMCA was proposed by United States President Donald Trump and was signed by President Trump, Mexican President Enrique Pena Nieto, and Canadian Prime Minister Justin Trudeau on November 30, 2018 as a side event of the 2018 G20 Summit in Buenos Aires.