Canada Joins US and Mexico on New USMCA Trade Deal, Ford Praises Government Leaders

Only hours before the deadline on Sunday, Canada has agreed to join the United States and Mexico in a trade deal that would replace the 24-year-old North American Free Trade Agreement (NAFTA), protecting the auto industry in the three countries from a potentially complicated future.

The trade deal is to be penned with a new name: the United States-Mexico-Canada Agreement, or USMCA for short. Although the current inner workings of the trade deal are unknown at this time, U.S. President Donald Trump called the agreement a "historic transaction" and claims that the agreement will help to greatly open markets to manufacturers and reduce trade barriers as a whole.

Canadian lawmakers reportedly agreed to the terms of the deal within the final few hours of the deadline, enabling the country to take part in the agreement that was threatened to otherwise move forward without the country's involvement. The deadline had a hard-stop of Sept. 1, as it initiated the 60-day countdown until Mexican President Enrique Peña Nieto leaves office on Dec. 1. As required, the USMCA deal will now be sent to Congress for a 60-day review period in which changes can be suggested before the final agreement can be signed by Trump.

Part of the revised agreement changes a key requirement in which automakers must source materials for their vehicles. Called "Rules of Origin", this clause would specify that manufacturers must retrieve at least 75 percent of a vehicle's parts from within the borders of Canada, Mexico, or the United States. This number has increased from NAFTA's requirement of 62.5 percent and will be placed alongside a separate requirement that would ensure that at least 40 percent of a vehicle's value would be made by workers earning at least $16 per hour.

Another important note is a side-letter to the deal which would address the imposition of automotive tariffs under Section 232, Should Trump institute a global automotive import tariff of 25 percent, both Canada and Mexico will be permitted to import an annual maximum of 2.6 million passenger cars to the United States without tariffs, while pickup trucks will be exempted entirely.

“Ford is very encouraged by today’s announcement, and we applaud all three governments for working together to achieve free and fair trade in a strong regional agreement." said automaker Ford in a statement pertaining to the USMCA. "We stand ready to be a collaborative partner to ensure this agreement is ratified in all three markets because it will support an integrated, globally competitive automotive business in North America. The benefits of scale and global reach will help to drive volume and support manufacturing jobs.”

As more details emerge of the deal's context, it will become increasingly clear just how the auto industry will be affected. Some critics of agreement's previous iterations believed that trade revisions would ultimately increase the end-cost for consumers. Furthermore, the reach of the deal would be fairly wide, affecting one in three vehicles imported from Mexico. In 2017, Mexico exported 2.33 million automobiles to the United States.

Video: Boy Gets Run Over While Tying Shoes, Stands Up, Keeps Playing Soccer

Well, here’s a roller coaster of emotion in just a few seconds. On Sept. 24 in Mumbai, India, a group of kids was playing soccer when an incident occurred that could’ve had a much worse result. One of the boys playing crouched down to tie his shoes and was shockingly run over by a small van, the driver of which apparently didn’t see the child. The victim disappears for a moment as he is completely run over before the video takes a relieving and, if we’re honest, a bit humorous turn when he springs right back up to keep playing with his friends.

The whole thing was caught on a surveillance camera and you can see the footage for yourself below.

It looks like the boy is in the fetal position after the van pulled away. This tactic worked well for him since he appears to have no major injuries and didn’t make any contact with the wheels of the van.

Perhaps the most surprising part of the whole thing is that none of the bystanders seemed to notice that someone was getting run over a few feet away from them. The boy’s friends gathered around him after he walked away from the hit and run, but it’s unclear what transpired after that.

According to Fox News, the police have seen this footage, but haven’t done anything about it because nobody has asked them to. “If anyone files a complaint, we will probe,” said an official. That makes us wonder if the boy even bothered to tell his parents that he got run over.

If this kid can get right back up after getting hit by a car, we have a feeling he won’t grow up to be one of those soccer players who dramatically fakes injuries.

Tesla Accelerates End-of-Quarter Deliveries in Attempt to Achieve Profitability

After years of burning through gigantic piles of cash Tesla may be on its way to profitability. In a series of emails obtained by CNBC, CEO Elon Musk reportedly reached out to employees over the weekend in a plea to "ignore all distractions" and focus on the weekend to close out the fiscal quarter, potentially placing Tesla in the black for the first time in the company's history.

During Tesla's last quarterly earnings call, Musk noted that the company expected to be profitable by the end of Q3. In emails sent to employees last week by the CEO, it's clear just how close Tesla is to achieving profitability, albeit a dollar figure isn't noted. However, the automaker believes that a single weekend could make-or-break its goal.

"We are very close to achieving profitability and proving the naysayers wrong, but to be certain, we must execute really well tomorrow (Sunday)," read one of the emails sent by Musk on Sunday, the last day of the fiscal quarter. "If we go all out tomorrow, we will achieve an epic victory beyond all expectations."

Tesla recently accepted volunteers from the community of ambitious Model 3 owners to push out its vehicles and streamline deliveries. After admitting that "production hell" was lightening up, logistical concerns were now on the horizon. The automaker claims to have begun to build its own car carriers to ship more vehicles to its customers, as well as offered a special delivery event in its home state of California earlier this month. Both events hint at Tesla pushing towards accelerating deliveries in what seems like an attempt to make its goal of profitability.

Tesla hasn't publicly announced any financial information regarding its end-of-quarter push, and it most likely won't until its next quarterly earnings call. Musk also hasn't been overzealous with hyping the news on Twitter, something which recently earned both the CEO and the company individual fines of $20 million with the Securities and Exchange Commission, as well as a need to police the CEO's Tesla-related Tweets.

Should Tesla post a profit, the automaker will show that its early investment into electrification is paying off in a big way. Meanwhile, other big-name manufacturers are beginning to follow on Tesla's coattails, sinking funds into their own electric projects after seeing just how many Americans are buying the Model 3.