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United States-Mexico-Canada Agreement (USMCA)

The United States-Mexico-Canada Agreement (USMCA) is a trade agreement that replaced the North American Free Trade Agreement (NAFTA) in July 2020. Sometimes it is referred as “NAFTA 2.0”. This updated agreement aims to strengthen economic ties and promote fair trade among the United States, Mexico, and Canada. The USMCA includes modernized provisions covering areas such as intellectual property rights, digital trade, labor laws, and environmental protections, reflecting the current economic landscape. By reducing trade barriers, the USMCA seeks to create a more balanced and reciprocal trading environment in North America.