1. The Trump administration shook up the nation’s economic base in two ways.

First, he proposed cutting taxes for businesses and most Americans, which Republicans saluted but one Democratic congressman called “mathematically impossible.” (We’re parsing the details, but our Washington editors see it as an opening bid, not a final plan.)

Second, the president told the leaders of Mexico and Canada that he would not terminate the North American Free Trade Agreement for now, keeping in place what he once called the worst trade deal ever signed by the United States. Earlier, a senior official had said that Mr. Trump was likely to sign an executive order taking the first steps to withdraw from the pact.