USMCA Replaces NAFTA - Adviser Investments

USMCA Replaces NAFTA

Rick Winters, vice president at Adviser Investments, has the market analysis for Tuesday, October 1. The Dow Jones Industrial Average and S&P 500 advanced 0.7% and 0.4%, respectively, meanwhile, the NASDAQ fell 0.1%. President Trump announced final approval of the U.S.-Mexico-Canada Agreement (USMCA), which will replace the North American Free Trade Agreement (NAFTA) in 2020. Among other provisions, USMCA mandates that cars and trucks will only be free from tariffs if at least 75% of their components are manufactured in North America, up from a 62.5% threshold under NAFTA.

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