The United States-Mexico-Canada Agreement (USMCA), a modified and modernized version of the North American Free Trade Agreement (NAFTA), will continue to govern most economic relationships in North America, including the more than $1.3 trillion in annual regional trade in goods and services, for the foreseeable future. The USMCA preserves the bulk of the NAFTA structures that permit North American manufacturers to compete effectively with their European and Asian counterparts in North American and foreign markets. Once in effect, the USMCA should largely resolve the chilling effect on...