Just when you thought President Trump’s MAGA hat was out of style, in comes a new NAFTA deal to coerce everyone to start wearing them again. I fully expect to see all of my friends in Princeton prancing about Palmer Square tomorrow in their vintage MAGA hats, sipping on glasses of chardonnay.
The news is fruitful and also bountiful.
The deal will also modernize what was covered by NAFTA by adding provisions on digital trade and intellectual property, the administration official said.
A U.S. official also pointed to the prospect of enforcing the agreement, calling it “one of the most enforceable trade agreements we’ve ever had.”
“This is going to be real, and it’s going to change people’s lives, and it’s going to make the U.S. economy stronger and better,” that official said.
Of note, the new trade pact will come up for review every six years, which will give the U.S. a “significant new form of leverage” to make sure the arrangement is to its liking, according to that senior American official.
The issue of enforcement was front and center in a statement on the deal from Senate Finance Committee Ranking Member Sen. Ron Wyden, D-Ore.
“As I’ve said many times, NAFTA has long needed a serious overhaul,” he said. “The crucial test for a new NAFTA, or any new trade agreement, is whether it is enforceable, particularly with respect to promises to protect worker rights and the environment. Americans are sick of hearing speeches about the benefits of new trade agreements when the agreements in place aren’t even enforced and their opportunities don’t materialize.”
On this news, futures are +175. This is one heck of a way to start off Q4. I’ll be reallocating the entire Exodus Quant portfolio tomorrow, which will be focused on mega caps.
Sleep tight Tesla shorts.
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Blessed be to the Orange. And blessed be to the Green. For they are our salvation