SSC MTS EXAM

Detailed explanation-1: -The North American Free Trade Agreement (NAFTA), which was enacted in 1994 and created a free trade zone for Mexico, Canada, and the United States, is the most important feature in the U.S.-Mexico bilateral commercial relationship.

Detailed explanation-2: -The United States, Mexico, and Canada updated NAFTA to create the new USMCA. USMCA is mutually beneficial for North American workers, farmers, ranchers, and businesses.

Detailed explanation-3: -The United States commenced bilateral trade negotiations with Canada more than 30 years ago, resulting in the U.S.-Canada Free Trade Agreement, which entered into force on January 1, 1989. In 1991, bilateral talks began with Mexico, which Canada joined. The NAFTA followed, entering into force on January 1, 1994.

Detailed explanation-4: -The U.S. – Mexico – Canada Agreement (USMCA) is a trade agreement between the named parties that entered into force on July 1, 2020.