The United States, Canada, and Mexico have been mutual holders of well-negotiated and planned trade deals for nearly three decades. The trade deals haven’t only allowed the three countries to trade easily, but the availability of free commerce has resulted in great profits for all economies.
In December of 2019, the United States Mexico Canada (USMCA) Trade Deal replaced the 24-year-old North American Free Trade Deal (NAFTA) to create a more modern free-trade system. By replacing NAFTA, the USMCA addresses recent and newly-emerging trade issues, like the harmonization of regulatory systems, e-commerce, and the protection of intellectual property during exportation. Additionally, the USMCA has altered some protocols regarding how certain goods can be traded, while focusing on the improvement of mechanisms on how to resolve trade disputes.