Washington, DC - Markets jumped to record highs and industry groups expressed optimism as President Trump secured a preliminary trade agreement with Mexico that will benefit American businesses and workers.
SENIOR FELLOW AT THE CENTER FOR THE NATIONAL INTEREST CHRISTIAN WHITON ON FOX NEWS: Trump Replaces NAFTA and Triumphs – New Trade Deal with Mexico is Yuge Win for Both Countries
“President Trump won a major victory on trade on Monday, supplanting the North American Free Trade Agreement (NAFTA) and replacing it with something far more beneficial. The new deal will help American workers and manufacturers. It’s also a win for Mexico.”
FORBES: Trump Secures a Trade Deal with Mexico to Replace NAFTA
“In a trade victory for President Trump’s divide and conquer approach, the United States and Mexico reached agreement on a new trade pact on Monday, raising hopes that a three-party deal with Canada can be reached to redraw the North American Trade Agreement. … U.S. and Mexican negotiators worked through the day Sunday to conclude their talks, which focus primarily on autos that will be accepted without tariffs in the United States. The agreement provides that 85 percent of the parts in the car must be made in North America to be considered for tariff-free imports.”
CNBC: S&P 500, NASDAQ Jump to Record Highs as US and Mexico Strike Trade Deal
“Stocks jumped on Monday as the United States and Mexico closed a new trade deal … The S&P 500 gained 0.8 percent to close at 2,896.74 — a record high — with materials and financials as the best-performing sectors. The Nasdaq Composite climbed 0.9 percent to an all-time high, breaking above 8,000 points for the first time … Monday also marked the first time since Feb. 1 that the Dow closed above 26,000.”
REUTERS: Global Stocks Climb as Markets Celebrate Trade Deal
“A global stocks index advanced to more than five-month highs on Tuesday, lifted by investor optimism that a U.S.-Mexico deal will help avert a global trade war. Monday’s news of the U.S.-Mexico agreement on trade pushed the S&P 500 and Nasdaq indexes to record highs, and indexes across Europe and Asia followed Wall Street’s lead, inching to multi-month highs. … MSCI’s benchmark world share index followed Monday’s best performance in over four months with a 0.21 percent gain.”
WASHINGTON EXAMINER: Oil Industry Encouraged by Trump’s Trade Deal with Mexico
“President Trump’s announcement with Mexico on Monday is being taken as an encouraging sign by the U.S. oil and natural gas industry.”
MANAGING DIRECTOR AT THE ARKIN GROUP AMANDA MATTINGLY ON CNN: US–Mexico Trade Deal Marks Beginning of New Friendship
“The preliminary US-Mexico trade deal announced Monday is a positive step forward in the negotiation process and hopefully one which will bring the United States, Mexico and Canada back to the table to revise and modernize the terms of the North American Free Trade Agreement (NAFTA). … NAFTA was originally negotiated 25 years ago, before the internet changed the way we do business and when Mexico had a much more inward-looking economy.”
CHRISTIAN SCIENCE MONITOR: US–Mexico Trade Deal Raises Worker Hopes On Both Sides of the Border
“A new United States-Mexico deal could end up doing something novel for an international trade agreement: putting concerns of workers near the center of the accord. President Trump touted this promise in announcing the tentative agreement. And Mexico’s labor-oriented president-elect is backing the deal alongside the nation’s current president. … [T]he deal does represent at least some departure from an era when trade deals left worker concerns largely on the periphery.”
