
REPLACING NAFTA WITH USMCA: ASSESSING THE ECONOMIC IMPACT OF REGIONAL TRADE EVOLUTION IN NORTH AMERICA
Bekzod Uzoqov , Master’s student, Department of International Economics University of World Economy and DiplomacyAbstract
This study evaluates the economic impact of the United States-Mexico-Canada Agreement (USMCA) on member countries, focusing on trade volumes, foreign direct investment (FDI), and GDP growth. Using post-USMCA data and comparative analysis with the former NAFTA framework, the study reveals moderate increases in trade and FDI, particularly in Mexico. While Canada and the U.S. experienced marginal benefits, Mexico's manufacturing sector notably expanded. The findings indicate that while USMCA modernizes trade relations and enhances digital and labor provisions, its economic benefits are unevenly distributed. Recommendations suggest policy harmonization and infrastructure development to optimize integration and equitable economic growth.
Keywords
USMCA, regional trade agreements, economic impact, foreign direct investment, trade volume, GDP growth, NAFTA
References
Office of the United States Trade Representative (USTR). (2023). USMCA Fact Sheet. Retrieved from https://ustr.gov/
OECD. (2023). International Trade and Balance of Payments Statistics. https://www.oecd.org
UNCTAD. (2023). World Investment Report 2023: Investing in Sustainable Energy for All. https://unctad.org
World Bank. (2023). World Development Indicators. https://data.worldbank.org
Global Affairs Canada. (2023). Canada's State of Trade Report 2023. https://www.international.gc.ca
Secretaría de Economía (Mexico). (2023). Foreign Investment Statistics. https://www.gob.mx/se/
Article Statistics
Downloads
Copyright License

This work is licensed under a Creative Commons Attribution 4.0 International License.