“The USMCA will give our workers, farmers, ranchers and businesses a high-level trade agreement that will lead to freer markets, fairer trade and robust economic growth in our region. It will strengthen the middle class and create good, well-paying jobs and new opportunities for nearly half a billion people who call North America home. The debate on the impact of NAFTA on signatory countries continues. While since the implementation of NAFTA, the United States, Canada and Mexico have experienced all the economic growth, higher wages and increased trade, experts disagree on how much the agreement has actually contributed to these benefits, if any, in terms of jobs in American manufacturing, immigration and consumer goods prices. The results are difficult to isolate and other important developments have taken place on the continent and around the world over the past quarter century. About a quarter of U.S. imports such as crude oil, machinery, gold, vehicles, fresh produce, livestock and processed foods come from Canada and Mexico, the second and third largest suppliers of imported products to the United States. In addition, about one-third of U.S. exports, including machinery, vehicle parts, mineral/petroleum fuels, and plastics, are destined for Canada and Mexico. NAFTA has been complemented by two other regulations: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Laboratory Cooperation (NAALC). These agreements should prevent companies from moving to other countries to take advantage of lower wages, more flexible health and safety rules for workers and more flexible environmental rules. During the election campaign, President Donald Trump promised to repeal NAFTA and other trade agreements that he considered unfair to the United States. On August 27, 2018, he announced a new trade agreement with Mexico to replace him. The U.S.-Mexico trade agreement, as it has been called, would maintain duty-free access for agricultural products on both sides of the border and eliminate non-tariff barriers, while encouraging more agricultural trade between Mexico and the United States and effectively replacing NAFTA.

On September 30, 2018, the United States and Canada agreed on an agreement to replace NAFTA, which will now be called USMCA – the agreement between the United States, Mexico and Canada. In a joint press release from the U.S. and Canadian trade offices, officials said NAFTA has not eliminated regulatory requirements for companies wishing to act internationally, such as.B rules of origin and documentation requirements that determine whether certain goods can be traded under NAFTA. The free trade agreement also provides for administrative, civil and criminal penalties for companies that violate the legislation or customs procedures of the three countries. The North American Free Trade Agreement (NAFTA) was implemented to promote trade between the United States, Canada and Mexico. The agreement, which eliminated the largest number of tariffs on trade between the three countries, entered into force on 1 January 1994. .