You probably know that representatives from Canada, Mexico and the U.S. are meeting at this moment to renegotiate the North American Free Trade Agreement (NAFTA)—and, in the words of President Trump, get “a better deal for America.” But what IS NAFTA, and what are the chances that this time around the provisions will favor jobs and growth in America?
In an effort to secure the U.S. borders, the President has attempted to ban visitors from seven Muslim-majority countries, and is meanwhile quietly instituting “extreme vetting” of visitors from other nations—asking them to turn over their phones, social media passwords and financial records. Even U.S. citizens are experiencing more scrutiny when they attempt to return to their home country.
You’re starting to hear people talk about “if” there’s a bear market during the Trump Administration, when the real truth is they should be talking about “when.” And it won’t necessarily be triggered by a poorly-worded tweet, a global-trade-stopping new tariff regime or tax and entitlement reform. Every presidential cycle has its share of market drawdowns, seemingly regardless of presidential policies.