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The North American Free Trade Agreement (NAFTA), which came into effect in 1994, is a trade agreement between the United States, Canada, and Mexico aimed at reducing trade barriers and promoting economic cooperation among the three countries. It eliminated tariffs on a wide range of goods and services, facilitating cross-border trade and investment. NAFTA also included provisions on labor and environmental standards, intellectual property rights, and dispute resolution mechanisms. In 2020, it was replaced by the United States-Mexico-Canada Agreement (USMCA), which modernizes various aspects of trade among the three nations.

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AnswerBot

1d ago

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