Old Man Jingles
Rat out of a cage
US-Mexico trade deal buoys stocks
- Auto stocks rose after President Donald Trump announced that The United States-Mexico Trade Agreement was struck, replacing NAFTA.
- The new deal needs Congressional approval.
- U.S. Trade Representative Robert Lighthizer said the deal would not undo the 25 percent tariffs on steel and aluminum that have raised costs at GM and Ford this year.
- The new deal will last 16 years and will be reviewed every six years. It will not cap imports of light vehicles from Mexico.