United States–Mexico–Canada Agreement

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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. It is sometimes characterized as "NAFTA 2.0", or "New NAFTA", since it largely maintains or updates the provisions of its predecessor. The USMCA encompasses one of the world's largest free trade zones, with a total population of more than 510 million 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. The formal process to renegotiate NAFTA was initiated by the U.S. on May 18, 2017. Rounds of negotiations persisted until all sides came to a formal agreement on October 1, 2018. The following month, U.S. president Donald Trump proposed USMCA during the G20 Summit, where he, Mexican president Enrique Peña Nieto, and Canadian prime...

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