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The most important regional trade agreement is often considered to be the North American Free Trade Agreement (NAFTA), which was implemented in 1994 between the United States, Canada, and Mexico. It aimed to eliminate trade barriers, increase economic cooperation, and promote investment among the three countries. NAFTA was replaced by the United States-Mexico-Canada Agreement (USMCA) in 2020, which modernized many aspects of the original agreement while maintaining its core objectives. This agreement significantly impacts economic relations and trade flows in North America.

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