The most accurate statement regarding the effect of NAFTA (North American Free Trade Agreement) on the United States, Canada, and Mexico is:
- It increased trade for all three countries.
NAFTA, which was implemented in 1994, aimed to eliminate trade barriers between the three countries, leading to increased trade volume among them. While it did create competition in some sectors, the primary effect observed was a significant rise in trade activities and economic interdependence among the U.S., Canada, and Mexico.