In 2020, the United States–Mexico–Canada Agreement (USMCA) became effective. The USMCA is a free trade agreement between the three nations and constitutes one of the world's largest free trade zones. USMCA is primarily a modernization of the North American Free Trade Agreement and was signed by Donald Trump. But following Trump's threats to impose 25% tariffs on goods from Canada and Mexico, the US president-elect has now stated that he will renegotiate his own trade deal after taking office in January 2025. So what does this mean for the USMCA, and what are the economic benefits already enjoyed by the US, Mexico, and Canada?
Click through and learn more about the USMCA.