U.S. manufacturers will now get to spend their last week of the summer pondering the impacts of a new trade agreement

The U.S. and Mexico reached an agreement to revise the North American Free Trade Agreement, President Trump announced on Monday. Trump said he will drop the NAFTA name and instead go with United States-Mexico Trade Agreement. Details of the plan have not yet emerged, but stocks popped on the news of a deal that has been long in the making. 

Dana (DAN - Get Report) CEO James Kamsickas tells TheStreet the deal could be a positive to the 115-year maker of axles and other car parts. 

"It's a big deal because everybody ultimately is looking for certainty and closure on what's going to happen with trade, tariffs," Kamsickas says. 

Kamsickas was unsure just yet on any potential sales or profit margin boosts from the deal in light of the scant details. 

"It's a little too early to tell," says Kamsickas, adding that manufacturers like Dana could see positive benefits because it produces products where it sells them. 

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