The worst thing that could have come out of a NAFTA renegotiation, a priority of the Trump administration, would have been implementing new tariffs on the successful free-trade zone between the United States, Mexico, and Canada. Thankfully, the USMCA framework that will be considered by Congress will retain the best thing about NAFTA: zero tariffs on 11,227 imported goods from Canada and Mexico.

At their core, free trade agreements such as USMCA are mutual tax-cutting agreements, since tariffs are taxes on imports. Canada and Mexico account for one-quarter of U.S. trade, and it’s in our interest to keep North American trade taxes as low as possible.