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Peso, Loonie Drop After NAFTA Renegotiation Executive Order Headlines

from Zero Hedge:

Confirming his campaign rhetoric and inaugural address tone, President Donald Trump is expected to sign an executive order as early as Monday to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico,according to NBC News’ Kristen Welker.

President Donald Trump is expected to sign an executive order as early as Monday stating his intention to renegotiate the free trade agreement between the United States, Canada and Mexico, a White House official told NBC News.

 

Eliminating the North American Free Trade Agreement (NAFTA), which was crafted by former President Bill Clinton and enacted in 1994, was a frequent Trump campaign promise.

 

The deal was intended to eliminate most trade tariffs between the three nations, increase investment and tighten protection and enforcement of intellectual property.

The reaction in the Mexican Peso and Canadian Dollar is clear…

Read More @ ZeroHedge.com

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