A survey has shown that a U.S. withdrawal from the North American Free Trade Agreement would lead to a stock market selloff, hitting agricultural and automobile stocks the hardest.
The survey, sponsored by the Trade Leadership Coalition and conducted by FTI Consulting, includes 103 responses from 97 different buy-side investment firms. Ninety-two percent of respondents are portfolio managers overseeing assets of $2.3 trillion.
"President Trump, and his trade advisers, need to know that the administration’s actions on NAFTA could seriously jeopardize the stock market rally that he has worked so hard to promote," said TLC Chairman Bill Lane.
"NAFTA helps make America globally competitive and provides a stable investment environment that creates jobs and prosperity in all three countries."