Final answer:
Post-NAFTA, trade among member nations increased significantly, and while there were job losses in the U.S., other sectors gained. Mexico experienced higher unemployment, leading to increased immigration to the U.S. NAFTA was eventually replaced by the USMCA in 2020.
Step-by-step explanation:
Since the passage of NAFTA in 1993, several significant economic events have unfolded among the member nations:
Trade increased among all three nations, with U.S.-Mexico trade surpassing $480 billion by 2015, a significant increase from the pre-NAFTA levels.
The expectation of job growth in the U.S. due to NAFTA was not met as predicted. By 2010, data showed that 682,900 U.S. jobs were lost, contrary to the early 1990s optimism.
Increased unemployment in Mexico, partly due to NAFTA's impacts, contributed to higher levels of illegal immigration to the U.S. in search of work.
Despite some job losses, especially in manufacturing due to forces such as automation, many other U.S. workers found employment in industries exporting to Mexico.
Standard of living improvements and economic growth were experienced, but these advancements were uneven among the member nations.
NAFTA was replaced by the United States-Mexico-Canada Agreement (USMCA) in 2020 after renegotiations, aiming to address labor and trade issues.