There's no clever portmanteau word for "NAFTA" and "exit." It's just as well. We hope we won't ever need to fit it in a headline.
The proposed replacement for the trade pact, the U.S.-Mexico-Canada Agreement, is far from perfect. It will place new burdens on automakers and suppliers, in terms of capital and paperwork, without necessarily achieving any of the intended benefits for U.S. manufacturing.
But this is the deal on the table, and the industry should be mindful of the prospect that the president will pull the pin on a North American Free Trade Agreement exit if USMCA gets held up. After all, it's almost 2020. So the industry should press members of Congress to move forward on USMCA urgently. The only thing worse than a Nafexit would be a no-deal Nafexit.