The development of trade relations in North America has always been an integral part of the interaction of countries within this continent. Due to the fact that there are several countries considered to be the most densely populated on the territory of this part of the world, the platform for creating a market base is fruitful enough. The creation of a special trade union among the countries of North America is quite a logical process, and the leaders of the countries should certainly strive to strengthen relations with their neighbors. The purpose of this work is to track the history of the development of trade relations between the largest countries on the North American continent and to assess the effectiveness of such association as the North American Free Trade Agreement (NAFTA). The paper includes some ideas of some respected authors and touches on such issues as the chronology of trade development, the results of union formation, a critical evaluation of the effectiveness of such a partnership, as well as possible recommendations based on the information provided. Chronology of Trade Between the U.S., Canada, and Mexico The idea of ​​organizing a trade zone inside North America was planned several years before the signing of the corresponding document. The prototype of NAFTA was the agreement signed between the US and Canada in 1988 (Komar, Uniiat, & Lutsiv, 2016). This fact was promoted by long-standing economic ties that had been formed in last century. The signed agreement between the US and Canada that was called CUSFTA came into force in 1989 (Komar, Uniiat, & Lutsiv, 2016). The basic thesis of this agreement was the creation of a free trade zone between these two countries. It was provided for ten years. A year later, negotiations began between the countries participating in the agreement. The aim was to attract Mexico, another big country to the association. Thus, as Beghin (2015) notes, since 1994, the North American Free Trade Agreement (NAFTA) has entered into force. This document was signed with the aim of strengthening and expanding foreign economic relations of each country. The main principle is the absence of obstacles and various types of discrimination in mutual investment and trade. Also, the members of the association support some of their producers, banning the importation of other countries’ products that not included in the agreement. It applies, for example, to cars or textile products. One of the central features of NAFTA is that economic relations at the level of small corporations first developed, and only then, based on their development, large international agreements were concluded. However, despite a rather strong alliance for more than 20 years of the association’s existence, there have already been several conflicts over the regulation of trade relations. It is perhaps because of the fact that the dominant position in the NAFTA agreement belongs to the US. The American economics significantly exceeds the economics of the other two participating countries. Therefore, the unification of power in the hands of one state, on the one hand, simplifies management, but on the one hand, creates the ground for some controversial situations. Implications of NAFTA Today Despite the