The difference between the Canada-United States-Mexico Agreement (CUSMA) and the North American Free Trade Agreement (NAFTA) is that CUSMA is the updated version of NAFTA. CUSMA was signed by the three North American countries on November 30, 2018, and came into effect on July 1, 2020. It replaces the 25-year-old NAFTA agreement and reflects the changing economic, technological, and political landscape in North America. CUSMA seeks to further facilitate trade and investment between Canada, the United States, and Mexico, while also promoting economic growth, job creation, and competitiveness in the region.