8. Modernizing NAFTA: USMCA In 1994, the United States, Canada, and Mexico formed the North American Free Trade Agreement (NAFTA), which was designed to provide each member nation better access to the markets, labor, and technology of the others. This agreement was updated in 2020 to become the U.S.-Mexico- Canada Agreement (USMCA), which contains about 90% of the original provisions of NAFTA, with several updates. Complete the following table by indicating whether each property represents an element of the 1994 North American Free Trade Agreement (NAFTA), or an update unique to the 2020 U.S.-Mexico-Canada Agreement (USMCA). Property NAFTA USMCA Allowances for some tariffs on digital products O O Elimination of tariffs on digital products O O 62.5% of the value of manufactured cars and trucks must be produced in North American factories O O Concerns over Mexico's ability to compete with more productive U.S. farmers O O