Thanks A Lot: Full Week Ahead Preview

Holiday road.

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Elizabeth Warren: ‘Canada Just Gave America A Wake-Up Call’

“So it probably came as a shock that one of Canada’s main goals in this renegotiation is to get the United States to treat our own workers better. Canada doesn’t want its workers competing with poorly-treated laborers — including workers in the United States.”

Wilbur Ross: If NAFTA Were A Person, It Would Be A Mass Murderer

“Our nation’s ballooning trade deficit has gutted American manufacturing, killed jobs and sapped our wealth. That is going to change under President Trump, and rules of origin are just the beginning.”

As Peso Slides, Mexico Reminds Trump: ‘We’re Not Paying For That Wall Under Any Circumstances’

On the bright side…

Trump Asks Twitter About NAFTA: ‘May Have To Terminate’?

As usual, he has managed to cram so much absurdity into 140 characters that it’s impossible to parse it all, but the first question that comes to mind is this: why the fuck is that posed as an interrogative?  

Kuroda Shrugs, Twitter Lampoons Sweden, Deutsche Crumbles: Welcome To Thursday

Ok, so as detailed earlier this morning, the first thing you should note about the overnight session was the action in the loonie and peso following Donald Trump’s decision to avoid ripping apart NAFTA (for the time being). You can read the full story on that with some additional color from FX trader Mark Cudmore…

Fun Times: NAFTA Never Mind From Trump Makes CAD, MXN Jump

“It is my privilege to bring NAFTA up to date through renegotiation,” Trump said, adding that he “believes that the end result will make all three countries stronger and better.”

Guest Post: Tough Day To Be Canadian

“It doesn’t really matter. For a while, investors will assume the rot spreads deeper than just one company. The entire Canadian real estate sector will now be guilty until proven innocent.”

“I’d Tax Every Benz,” “It’s A Corpse That Still Moves”: Are You Getting The Truth On Trade?

“At the same time, tariffs would weigh on US growth. If we assume that Mexico and China retaliate with equivalent tariffs, this would substantially reduce demand for US exports, depressing US GDP by around 0.7pp by 2019. In fact, tariffs would likely hit US GDP so sharply that the Federal Reserve would be prompted to reduce interest rates to cushion the blow—despite an increase in inflation.”

How Is The Market Pricing A NAFTA Rethink?

I’d say it’s probably fair to suspect that when it comes to renegotiating NAFTA (“the worst trade deal ever,” according to Donald Trump) Mexico is likely to get the short end of the proverbial stick. After all, it’s not Canadian immigrants who are “rapists” and who are “bringing drugs,” and it’s not Canadians who cost…

GM Gets “Lockheed Martin’d” In Trump Tweet

Look out, it’s a Twitter tape bomb!

These Are The States That Would Be Most Hurt If Trump Rips Up NAFTA

Donald Trump likes to extol the virtues of “good” deals. He also likes to bemoan the tragedy inherent in the striking of “bad” deals. And he would know the difference, right? After all, he wrote the book on this – or actually his ghostwriter wrote it and now regrets it, but those are minor details.…