As multi-agent AI systems are increasingly deployed in real-world settings - from automated customer support to DevOps remediation - failures become harder to diagnose due to cascading effects, hidden dependencies, and long execution traces. We present AgentTrace, a lightweight causal tracing framework for post-hoc failure diagnosis in deployed multi-agent workflows. AgentTrace reconstructs causal graphs from execution logs, traces backward from error manifestations, and ranks candidate root causes using interpretable structural and positional signals - without requiring LLM inference at debugging time. Across a diverse benchmark of multi-agent failure scenarios designed to reflect common deployment patterns, AgentTrace localizes root causes with high accuracy and sub-second latency, significantly outperforming both heuristic and LLM-based baselines. Our results suggest that causal tracing provides a practical foundation for improving the reliability and trustworthiness of agentic systems in the wild.