Stock Market Surges as Trump Announces Mexico Trade Deal Stock Market Surges as Trump Announces Mexico Trade Deal – NTK Network

Stock Market Surges as Trump Announces Mexico Trade Deal

The Dow Jones Industrial average cracked 26,000 points as the president negotiated a new trade deal with Mexico to replace NAFTA.

By NTK Staff | 08.27.2018 @5:30pm
Stock Market Surges as Trump Announces Mexico Trade Deal

As President Trump sat in the Oval Office and informed reporters of his intention to sign a new trade agreement with Mexico, the stock market took off with the Dow Jones Industrial average breaking the 26,000-point barrier.

Investors began the day optimistic, taking the market to just under 26,000, but the news that Trump would soon announce a new trade agreement with Mexico helped the market surge higher.

The president, in a teleconference with Mexican President Enrique Nieto, said that the United States would replace NAFTA with the U.S.-Mexico Trade Agreement.

The stock market welcomed the news (image per The Wall Street Journal):

Trade war fears have overshadowed the stock market’s remarkable run, but the new agreement assuaged investors’ worries.

The market surge could be temporary, however. Trade agreements must be authorized by Congress, and with just a few months to go until the 2018 midterms, Trump may be relying on a new Congress to ratify this agreement next year.

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