*By Carlo Versano*
Investors on Monday appeared to sign off on a renegotiated North American Free Trade Agreement (NAFTA) agreement ー with the Dow closing up nearly 200 points, marking its second highest close ever.
Among the biggest winners from the deal was the U.S. dairy industry, said Lauren Gardner, reporter for POLITICO Pro Canada.
"The president seized on that after hearing from stakeholders in Wisconsin who were very unhappy with how the Canadian dairy market was being protected by that country," she said in an interview with Cheddar Monday. "Another front was autos...They didn't totally take tariffs off the table, but they did get Canada to agree to a higher cap."
Those stocks certainly seemed to respond in kind. Shares of General Motors ($GM) were up about 1.3 percent on Monday, while Ford ($F) rose a percent.
The market reaction came after the U.S. and Canada announced hours before a midnight deadline Sunday a framework for a deal that ー paired with a previous agreement from August between the U.S. and Mexico ー would replace NAFTA and deliver a policy win for President Trump one month before a crucial midterm election.
The deal, the United States-Mexico-Canada Agreement (USMCA), will include concessions from Canada for greater U.S. access to its dairy market. In exchange, the U.S. will modify its language on dispute settlements. The latest agreement also puts an end to over a year of tumultuous negotiations between the three countries.
It also creates new language for the tech industry, which was in its infancy when NAFTA was conceived in the early 90s. The new deal also requires automakers to build more cars in North America with higher-paid workers.
"It's a good day for Canada," Prime Minister Justin Trudeau, who reasserted himself in frantic negotiations over the weekend to close the deal, said Monday.
President Trump [tweeted](https://twitter.com/realDonaldTrump/status/1046714711268622336) his support early on Monday, saying the pact "will bring all three Great Nations together in competition with the rest of the world."
Mexico had been eager to have a deal in place before sitting president Enrique Pena Nieto leaves office and the president-elect Andres Manuel Lopez Obrador takes up the mantle on Dec. 1. The question remains stateside whether lawmakers in Congress will formally ratify the pact when they vote on it, likely in early 2019. That probability will shift further if Democrats, unwilling to hand a victory to the Trump administration, take the House in November.
Europeans upset with Elon Musk still aren’t buying his electric cars, adding to a long losing streak for his company.
President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie ahead of the board considering the largest railroad merger ever proposed.
Ford is recalling more than 355,000 of its pickup trucks across the U.S. because of an instrument panel display failure that’s resulted in critical information, like warning lights and vehicle speed, not showing up on the dashboard.
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
