Canadian Prime Minister Justin Trudeau pivoted during high-stakes negotiations on the North American Free Trade Agreement this week; saying he can’t sign-on to any deal that doesn’t protect Canada’s “culture” and history.
According to the CBC, Trudeau “will not sign a renegotiated” NAFTA without direct protections for Canada’s cultural sectors; including media, sports, and other institutions vulnerable for purchase by American corporations.
“It is inconceivable to Canadians that an American network might buy Canadian media affiliates, whether it’s newspapers or TV stations or TV networks. It would be a giving up of our sovereignty and our identity and that is something that we will simply not accept,” said the Prime Minister in Vancouver.
“We’ve made it very clear that defending that cultural exemption is something fundamental to Canadians,” he added.
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GREAT AGAIN: Stock Market Hits ALL TIME HIGH Over ‘NEW NAFTA’
The Nasdaq composite hit an all-time high Monday morning amid news of a restructured NAFTA deal; breaking 8,000 points and inching up 0.6% after negotiators confirmed a revamped agreement was just hours away.
“The Nasdaq Composite climbed 0.6 percent to an all-time high, breaking above 8,000 for the first time, as Facebook, Amazon, Netflix and Alphabet. The Dow Jones Industrial Average rose 214 points as Caterpillar outperformed. The S&P 500 gained 0.6 percent to hit a record high with materials and financials as the best-performing sectors,” writes CNBC.
“The market has been buffeted with a lot of headwinds lately, and the biggest one is trade,” said one industry insider. “If you were to take trade out of the picture, you would have a smoother ride higher in this market.”
The ‘NEW NAFTA’ would center on easing tariffs and limitations on the American automobile and agricultural sectors; two key barriers blasted by President Trump throughout the 2016 campaign.
Read the full story at CNBC.
GREAT AGAIN: S&P 500 Hit ALL TIME HIGH after Trump’s ‘NEW NAFTA’ Deal
The stock market smashed records and monthly estimates Monday; posting huge gains just hours after President Trump unveiled a new US-Mexico Trade Agreement that sent Wall Street soaring.
Alongside Nasdaq which also hit record levels, the S&P 500 index “notched an all-time high” when it rose to 2,897.86 during midday trading.
“The tech-weighted Nasdaq reached an all-time high Monday, climbing 0.9 percent to cross over 8,000 for the first time ever. The S&P 500 also notched an all-time high, hitting 2,897.86 in intraday trades,” writes the New York Post.
“The Dow Jones industrial average, meanwhile, was recently up more than 250 points to cross 26,000 for the first time since early February. The index is still roughly 600 points below its all-time high of 26,616.71 set in January,” adds the author.
Read the full story at the New York Post.