Despite the new name (the U.S.-Mexico-Canada Agreement, or USMCA) dropping any references to trade, let alone freedom, the tariff rates on imports from Canada and Mexico are still a mass of zeroes. The main new element – the abolition of a variety of milk Canada introduced last year to support its domestic dairy industry – is ultimately an anti-protectionist move. The main old element is some fiddling around Nafta’s rules on automotive trade which, as we’ve argued previously, aren’t likely to change much.