Afternoon Coffee: Second Round of NAFTA Talks Conclude, States of Emergency Declared for Hurricane Irma

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The latest talks to restructure the North American Free Trade Agreement (NAFTA) are wrapping up in Mexico City Tuesday, although the negotiators have made few breakthroughs on issues large or small, according to Bloomberg. Based on the limited progress, most observers believe a deal will not be in reach by the stated goal of December.

Irma Approaches

Right on the heels of Hurricane Harvey, a second major cyclone is closing in on the U.S. East Coast. As the Guardian writes, Puerto Rico and Florida have already declared states of emergency ahead of Hurricane Irma, which is fast developing into a Category 5 storm.

Rockwell Acquisition

United Technologies announced Monday it is buying avionics and aircraft parts maker Rockwell Collins for $30 billion, NBC News reports. The deal would make United Technologies a “tail-to-nose one-stop shop in aircraft manufacturing,” combining engines, brakes and landing gear, and flight controls.

Manufacturing Orders

And finally, an economic update: The Institute for Supply Management said Friday its index of factory activity rose to 58.8 in August from 56.3 in July, according to the Wall Street Journal. The reading, a six-year high, suggests several positive economic conditions are boosting American manufacturers.