NAFTA as an organization is very important for the three North American economies, the USA, Canada, and Mexico. It is basically a regional trade organization which has lifted the borders when it comes to trade, thus enabling free movement of goods between these three nations. This has resulted in rise of the economies of all three nations, as there were no trade barriers between them anymore. The companies where able to move their facilities and to operate in each of these countries, which brought them larger profits. The Canadian and the US economies became almost like one, as the companies managed to operate in both places, and to become major players in the market, this especially goes for the US companies that made Canada their home terrain.

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NAFTA had many advantages for the three above-mentioned countries. However, it also had many disadvantages to the degree that NAFTA had to be revised by the three governments during the Trump administration.

That represented the end of NAFTA because the three countries initiated a series of negotiations to update the trade agreement and change many components of the treaty.

After many months of negotiations, the three Congress of the United States, the Congres of México, and the Parliament of Canada review the new agreement and approved the agreement under a new name: USMCA, the United States Mëxico, and Canada Agreement.