Companies love NAFTA
US automakers are one of the reasons that the Dow hit a record today. The rise in the stock market is something Trump mentions almost every time a new record is hit, including today.
One way he could undercut the stock market is to dump NAFTA. Automakers are worried and have formed a coalition called ‘Driving American Jobs’ that will lobby the White House to leave NAFTA largely intact.
«We need you to tell your elected officials that you don’t change the game in the middle of a comeback. We’re winning with NAFTA,» the group said on its website.
Most people, me included, think Trump’s NAFTA talk is all rhetoric. He probably doesn’t even know what’s in the deal and has never talked about details that he would like to change.
Ultimately, there will be some cosmetic changes and it will be business as usual. At least that’s what I think markets are pricing in.
But with Trump, you never know.