Cars are one of the top goods the United States imports from Mexico. Along with other goods from Mexico and Canada, cars have been able to enter the US duty-free if they comply with the terms of a trilateral trade agreement known as USMCA. Victoria Razo/Bloomberg/Getty Images

When President Donald Trump introduced his “Liberation Day” tariffs in April, many economists predicted Americans would soon experience massive price increases. While inflation has ticked up in the eight months that passed, it’s been nowhere near levels initially projected.

A big reason for that: Nearly everything from cars to toilet paper produced by America’s top two trading partners, Mexico and Canada, has been exempt from duties if goods comply with the terms of a trilateral free-trade agreement known as t

See Full Page