Obama’s auto deal will increase profits for automakers

Automakers will benefit from a $1.2 trillion federal trade deal that is expected to increase their profits, according to the American Automotive Parts Manufacturers Association.

The deal also would boost the incomes of some 3 million American workers, and would also provide billions of dollars in tax relief, the association said in a statement.

The administration has repeatedly said the agreement will help American workers and businesses.

The president is expected Monday to announce the final details of the deal and the details of its tax benefits, as well as the timing of the signing ceremony.

Trump has threatened to veto the agreement, and House Republicans have threatened to block the legislation unless the president signs it into law.

The U.S. trade deficit with Mexico reached $46 billion in 2018, the largest since 2009, according a nonpartisan Congressional Budget Office report released last week.

The trade deficit has been the top reason the U.N. has raised the U: trade deficit between the United States and Mexico is $15.9 billion a day, according the CBO report.

Trump is expected on Monday to make the final decision on the agreement and the tax relief package, which is likely to include the tax credit for businesses to reduce their foreign taxes. ____