This study estimates the likely impact of terminating the North American Free Trade Agreement on the U.S. Economy, exports and jobs. It also estimates those impacts for each of the 50 states. We find that terminating NAFTA would have large net negative impacts on U.S. GDP, employment and exports, particularly in the short- to medium term. In contrast, as supply chains shift, trading partners like China, Korea, Japan and Germany would gain from a termination of NAFTA.