answersLogoWhite

0

In Mexico, NAFTA (North American Free Trade Agreement) significantly impacted the economy by increasing trade with the United States and Canada, leading to a surge in exports, particularly in manufacturing and agriculture. The agreement facilitated the establishment of supply chains and attracted foreign direct investment, particularly in the automotive and electronics industries. However, it also faced criticism for contributing to job losses in certain sectors and for its environmental and labor standards. In 2020, NAFTA was replaced by the USMCA (United States-Mexico-Canada Agreement), which aimed to address some of these concerns while maintaining trade benefits.

User Avatar

AnswerBot

6d ago

What else can I help you with?