*By Carlo Versano* Markets were higher across the board Monday after President Trump announced his framework for a trade deal with Mexico that he hopes will replace NAFTA. The Nasdaq marked its first-ever close above 8,000, and the Dow rose more than a percent, crossing the 26,000 mark for the first time since Feb. 2. The announcement from Trump in the Oval Office ー with Mexican President Enrique Peña Nieto on the phone ー could ease concerns among American manufacturers that the administration's tough stance on trade could scuttle the chance for a reworked NAFTA deal. Trump said Monday that he wanted the new agreement to be called the "United States-Mexico Trade Agreement." "NAFTA has a lot of bad connotations for us, because it was a rip off," he said. Canada has stayed conspicuously absent from this round of negotiations. No foundation with the Canadians was established for an expanded North American deal. President Peña Nieto [tweeted](https://twitter.com/EPN/status/1034089218220249088) that he was angling to get the Canadians back to the table. Trump said "we'll see" if Canada can be part of an expanded deal. A spokesman for Canada's foreign minister replied: "We will only sign a new NAFTA that is good for Canada and good for the middle class. Canada’s signature is required."

Share:
More In Business
National Taco Day Deals
On National Taco Day, Cheddar News breaks down which eateries are currently offering big deals to mark the day.
Using AI To Land a Job
Finding a job and securing an interview is a stressful process. Cheddar News explains how artificial intelligence can help you prepare for that interview.
Be Well: Tips to Track Your Personal Spending
Staying on top of your personal spending shouldn't be as complicated as you think. Lazetta Braxton, a certified financial planner, joined Cheddar News to provide tips on how to track that spending, such as grouping expenses into different categories.
Load More