Numbers are looking good and anyone who woke up to a nice surprise today can thank Donald Trump, Mike Pence, and even Mexico! President Donald Trump tweeted this morning that a deal with Mexico was looking good, but it seems like many might not have expected it to be this good. Of course, those who weren’t privy to the talks with Mexico might have wanted the news to be about a huge border wall protecting both Mexico and America from illegal immigrants, but this deal had to do with something else that could have a long-lasting effect on the way America and Mexico do business. No wall just yet, but this is a huge step in the right direction for both the United States and Mexico. This is a deal that should hopefully help businesses thrive as the new deal with Mexico looks like a solid step to work together.
Vice President Mike Pence chimed in, stating that we’re starting a ‘new chapter’ with Mexico as both sides have agreed to a trade deal that may eventually replace the North American Free Trade Agreement, commonly referred to as NAFTA.
“After a year of tough negotiations, the United States and Mexico reached a trade agreement that is fair and reciprocal and will strengthen both nations’ economies,” Pence said in a statement, adding that Monday marked “a new chapter between the United States and Mexico … built around friendship, security, commerce, and prosperity.”
“Our nations have agreed to new rules that will maintain duty free access for agricultural goods on both sides of the border. In addition, we have agreed to eliminate nontariff barriers and take other steps to encourage more agriculture trade between our two countries,” he said.”
https://twitter.com/realDonaldTrump/status/1034072800041099265
CNBC reported: “Stocks jumped on Monday as the United States and Mexico closed a new trade deal, potentially removing a source of uncertainty that had been plaguing investors for months.
The Dow Jones Industrial Average rose 260 points as Caterpillar outperformed. The Nasdaq Composite climbed 1 percent to an all-time high, breaking above 8,000 points for the first time, as Facebook, Amazon, Netflix and Alphabet rose. The S&P 500 gained 0.8 percent to hit a record high with materials and financials as the best-performing sectors.
“The market has been buffeted with a lot of headwinds lately, and the biggest one is trade,” said Art Hogan, chief market strategist at B. Riley FBR. “If you were to take trade out of the picture, you would have a smoother ride higher in this market.”
President Donald Trump said the deal would be called The United States-Mexico Trade agreement, leaving behind the 24-year-old NAFTA name. “The name NAFTA has a bad connotation because the United States was hurt very badly by NAFTA,” he said. Trump added that the deal with Mexico is also very special for farmers and manufacturers. U.S. Trade Representative Robert Lighthizer said the deal must be approved by Congress before being implemented.”
https://twitter.com/realDonaldTrump/status/1034141327666163712
If you’re like me and not into the stock market, then all you need to know is that this is a good thing. When two countries agree on a deal that benefits both sides, then it should be one of those deals that Congress approves immediately.
If this helps investors and businesses and trickles down into the consumers pockets one way or another, then it’s something that we all can agree was much needed.
I can’t wait to see how the Democrats spin this to be a bad thing.
You can’t go wrong with the stock market hitting record all-time highs.
Good news needs to be shared!
