NAFTA explained

1. NAFTA talks begin: The first round of talks to renegotiate the North American Free Trade Agreement are set to begin on Wednesday along with last through Sunday, August 20.

President Trump promised to change the terms of the trade pact between the United States, Canada along with Mexico during his campaign. He blamed NAFTA for moving manufacturing jobs to Mexico along with has called the item “the worst trade deal maybe ever signed anywhere.” however nonpartisan congressional research found in 2015 in which NAFTA did not lead to mass job loss.

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The administration wants a deal in which will lower the U.S trade deficit with Mexico, tighten labor laws along with raise the value-added tax threshold for e-commerce purchases made in Mexico.

About 14 million U.S. jobs depend on trade with Canada along with Mexico, along with over $1 billion of commerce crosses the northern along with southern U.S. borders each day.

2. Retail earnings continue: the item’s another big week for retail. Home Depot (HD) will report its second quarter earnings on Tuesday. Target (TGT) reports on Wednesday, along with Walmart (WMT) along with Gap (GPS) both report on Thursday.

Walmart delivered Great news for investors when the item released its first-quarter earnings in May. The retailer’s profit exceeded expectations, its same-store sales rose along with most importantly, its digital sales shot up by 63% compared to last year.

Target raised its profit forecast last month after sales much better. The announcement helped boost retail stocks, which have been hurting as consumers continue to lose interest in brick along with mortar stores.

3. July retail sales report: The Census Bureau will Discharge its estimate for July retail sales on Tuesday.

the item’s been a slow summer so far. Retail sales dropped 0.2% by May to June, marking the second consecutive decline along with the third one This kind of year. Americans are spending less at gas stations, grocery stores, department stores, restaurants along with bars.

If consumer spending stays low, the item’ll be hard for Trump to deliver on his promise to get U.S. growth up to 3%.

4. August consumer sentiment: On Friday, the University of Michigan will Discharge preliminary data for consumer confidence in August. The closely monitored monthly survey gives a Great sense of whether American consumers are willing to spend money.

In January, when Trump was inaugurated, consumer confidence reached 98.5 — the highest level in more than a decade. Confidence soared on hopes in which Trump might cut taxes, reduce regulations along with spend on infrastructure. Those plans have stalled, along with consumer confidence fell to 93.4 in July.

5. Coming This kind of week:

Tuesday — Home Depot earnings

Wednesday — NAFTA talks begin; Target earnings; Cisco (CSCO, Tech30) earnings

Thursday — Walmart earnings; Gap earnings

Friday — Consumer confidence preliminary data for August

sy88pgw (brand new York) First published August 13, 2017: 8:09 AM ET