The deal is done.

This afternoon, both the U.S. and Canadian governments stood before the cameras to make their cases for a job well done. It was telling that while the Canadian government spoke of victories in the auto sector and in preserving the middle class, the United States celebrated intellectual property and digital trade.

The Logic spent last night and this morning analyzing the deal—known as USMCA, or the United States-Mexico-Canada Agreement (phew!)— and what it means for the innovation economy. Our findings are broken down below.