NAFTA is dead. Long Live USMCA. Thank You President Trump

By Medha Singh

(Excerpt)

(Reuters) – Wall Street was set to open higher on Monday after the United States and Canada clinched a last-minute deal to save NAFTA as a trilateral pact with Mexico, raising hopes for progress in talks with other countries at the start of the fourth quarter.

The relief lifted world markets after the new United States-Mexico-Canada Agreement (USMCA) rescued a $1.2 trillion open-trade zone on Sunday.

U.S. President Donald Trump coerced Canada and Mexico into accepting more restrictive commerce with their main export partner in a deal that will make it harder for global auto makers to build cars cheaply in Mexico and aims to bring more jobs to the United States

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