The United States–Mexico–Canada Agreement (USMCA) is a free trade agreement between United States, Mexico and Canada was signed on 2nd Oct 2018. It will be replacing the previous version of NAFTA. It is the result of the 2017–2018 renegotiation of NAFTA by its member states, which informally agreed to the terms on September 30, 2018, and formally on October 1. Final ratification and implementation is pending.
Compared to NAFTA, the agreement gives the U.S. more access to Canada's $19 billion dairy market, incentivizes more domestic production of cars and trucks, increases environmental and labor regulations, and introduces updated intellectual property protections. The North American trade had been preserved and modernized for the 21st century.