USMCA

The Agreement between the United States of America, the United Mexican States, and Canada (USMCA) is a free trade agreement among the United States, Mexico, and Canada, in effect from July 1, 2020. It replaced the North American Free Trade Agreement (NAFTA) implemented in 1994. Further, it is sometimes characterized as "NAFTA 2.0", or "New NAFTA", since it largely maintains or updates the provisions of its predecessor. The region including the United States, Mexico, and Canada is one of the world's largest free trade zones, with a population of more than 510 million people and an economy of US$30.997 trillion in nominal GDP – nearly 30 percent of the global economy, and the largest of any trade bloc in the world.