The North American trade agreement first enacted in 1994 is known as the North American Free Trade Agreement (NAFTA). It established a trilateral trade bloc between the United States, Canada, and Mexico, aiming to reduce trade barriers, increase economic cooperation, and promote free trade among the three nations. NAFTA eliminated or reduced tariffs and facilitated investment opportunities across the member countries. While it contributed to economic growth and increased trade volumes, it also sparked debates over job losses in certain sectors and its impact on labor and environmental standards, influencing subsequent trade discussions and agreements.