Afternoon Coffee: Trump Abandons TPP, Wal-Mart Cuts Employees from Supply Chain

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President Trump signed an executive order Monday officially withdrawing the United States from the Trans-Pacific Partnership, the New York Times reports. Saying the deal was bad for American workers, Trump's quick move to abandon the pact may foreshadow a similar attempt to renegotiate the North American Free Trade Agreement (NAFTA).  

Reduced Replenishment Numbers at Wal-Mart

Wal-Mart followed through with stated plans Friday to lay off 1,000 jobs in its supply chain, the Wall Street Journal writes. Workers in human resources, technology and e-commerce are also expected to be cut and several top executives are leaving the company as the retailer shifts its focus to store and e-commerce operations.

Autonomous Cars Hit the (Test) Road

U.S. officials have designated 10 test tracks where researchers and federal regulators can more thoroughly test autonomous vehicles, according to IndustryWeek. The Transportation Department picked two sites in California and one each in Michigan and seven other states as locations for proving self-driving cars before they hit U.S. roadways.

OPEC Cuts Ahead of Schedule

Major oil producers are near their target of taking 1.8 million barrels of crude a day off global markets, Russia's energy minister said Sunday. The announcement comes just two months after agreeing to do so in efforts to push up the price of crude.

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