Quote:IT’S OVER: Trump ‘TERMINATES’ NAFTA, Unveils New ‘US-Mexico Trade Agreement’

'President Trump unveiled his plan to scrap the North American Free Trade Agreement Monday;
announcing a new US-Mexico Trade Agreement hailed as “one of the largest trade deals ever made.”

The Commander-in-Chief addressed the American people from the Oval Office Monday afternoon;
thanking senior negotiators from both nations for drastically overhauling the 24-year-old agreement
the President routinely slammed as “one of the worst deals ever made.”

“I’ll be terminating the existing deal and going into this deal,” the president said in the Oval Office,
calling it a “big day for trade.”
“We are starting negotiations with Canada pretty much immediately,” Trump said.

“They used to call it NAFTA, we are going to call it the United States-Mexico Trade Agreement, and we
will get rid of the name NAFTA,” Trump said. “It has a bad connotation because the United States was
hurt very badly by NAFTA.”...'

Quote: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 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, as Facebook, Amazon, Netflix and Alphabet rose. Tech's gains led the Nasdaq to close at 8,017.90.
The Dow Jones Industrial Average rose 259.29 points to 26,049.64 as Caterpillar outperformed. Monday also marked the first time since Feb. 1 that the Dow closed above 26,000.
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