The economic relations between the three North American countries are close. They were recently further deepened by the USA-Mexico-Canada Free Trade Agreement (USMCA) concluded in 2018.
The cross-border value chains in the region are highly integrated; the countries of North America are each other's most important or second most important trading partner. Already under the North American Free Trade Agreement (NAFTA), cross-border trade in goods within this zone grew significantly. The real GDP of the three countries exceeds that of the EU-27 or the People's Republic of China. The USA alone generates almost a quarter of the world's economic output,
Trade relations with the three countries are diverse and show further growth potential. Trade between Switzerland and the USA in particular is developing positively. The USA and Germany are Switzerland’s most important trading partners in goods worldwide. In the last twenty years, for example, goods exports from Switzerland have tripled, while services imports from the USA are particularly significant. Switzerland is also an important investor in North America. In the USA, it is even the seventh most important foreign investor.
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