August 1992 saw North America’s three largest countries come together to sign the North American Free Trade Agreement, which all parties saw as a chance to spur their economies.
While the deal didn’t take effect until January 1994, the historic signing in 1992 was a symbol of economic partnership that remained strong until Donald Trump came along.
The News is looking back at notable events from Medicine Hat’s history leading up to the celebration of our 140th publishing year later this fall.
NAFTA’s signing led to the phasing out of tariffs on a wide range of goods and services, aiming to eliminate trade barriers and boost markets.
The United States and Canada had dabbled in free trade for a few years ahead of the signing, but Mexico was brought in when NAFTA negotiations began in 1991.
NAFTA remained the agreement in place until 2018, when Trump forced the other two countries to the table to negotiate and sign the USMCA.
At the time, Trump said the USMCA was possibly the greatest deal ever made. In 2025, upon being sworn in for a second term, Trump said the U.S. was being treated unfairly in the deal, and promptly started an ongoing trade dispute with not only Canada and Mexico, but with most of the developed world.
