In trade news, the United States and Mexico have reached a preliminary agreement to revise portions of NAFTA, the North American Free Trade Agreement, but Canada has not yet agreed to any of the changes. On Monday, President Trump threatened new auto tariffs on Canada if talks don’t succeed. While the deal with Mexico is just a preliminary agreement, Trump claimed a new trade deal replacing NAFTA had been reached.

President Donald Trump: “I like to call this deal the United States-Mexico trade agreement. I think it’s an elegant name. I think NAFTA has a lot of bad connotations for the United States, because it was a ripoff. It was a deal that was a horrible deal for our country. And I think it’s got a lot of bad connotations to a lot of people. And so, we will, probably—you and I will agree to the name.”