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The trade agreement that was established in 1994 to reduce trade barriers between Canada, the United States, and Mexico is NAFTA, which stands for the North American Free Trade Agreement. The primary goal of NAFTA was to create a trilateral trade bloc in North America, facilitating a significant increase in trade and investment among the three countries by eliminating tariffs and other trade restrictions.

NAFTA has had a considerable impact on the economies of the member nations, encouraging economic integration and allowing for the movement of goods and services across borders with more ease. It set the precedent for similar trade agreements in the region and highlighted the advantages of trade liberalization.

In contrast, GATT (General Agreement on Tariffs and Trade) was a multilateral agreement governing international trade but predates NAFTA and does not specifically address North American trade. TPP (Trans-Pacific Partnership) aimed to enhance trade and investment among a group of Pacific Rim countries, but it was not established until after 1994 and did not involve Canada, the U.S., and Mexico in the same framework. USMCA (United States-Mexico-Canada Agreement) is the successor to NAFTA, which was negotiated and signed in 2018, reflecting newer trade dynamics and concerns