Finance Minister Bill Morneau speaks to reporters in Ottawa on November 22, 2018. (Sean Kilpatrick/The Canadian Press)

Canada has ‘high level of confidence’ USMCA will be ratified in U.S.: Morneau

Donald Trump said he planned to give formal notice of his intentions to withdraw from NAFTA, which would give American lawmakers six months to approve the USMCA

Federal Finance Minister Bill Morneau says Canada takes seriously comments made by U.S. President Donald Trump about withdrawing from the North American Free Trade Agreement.

But Morneau told a gathering in New York today he had no insight into when that might happen.

And the finance minister said he has a “high level of confidence” that the new pact negotiated to replace NAFTA will be ratified by all three countries involved.

Morneau made the comments at an event co-hosted by Politico and the Canadian consulate in New York.

He said it’s clear U.S. lawmakers are in the first stages of negotiations toward ratifying the U.S.-Mexico-Canada Agreement, known as USMCA.

On Saturday, Trump told reporters he planned to give formal notice of his intentions to withdraw from NAFTA, which would give American lawmakers six months to approve the USMCA or have no free-trade pact with Canada and Mexico.

READ MORE: Trump to kill old NAFTA to push Congress to approve USMCA

“We take everything seriously,” Morneau said when asked whether he took the president’s comments at face value. “While we’ll have to watch and ensure we get through this next stage, we have a high level of confidence that’s achievable.”

Larry Kudlow, Trump’s senior economic adviser, said he and Trump hadn’t spoken in detail about the president’s thinking.

“I think he’s trying to light a fire under Congress — that’s my guess, my hunch,” Kudlow told a conference call with reporters.

“The ceremonies, the signing — the president’s very happy with all of that. Everybody showed up. Trudeau showed up and so forth. And we’re rolling. Congress, on the other hand, is not rolling, and I think President Trump’s intent here was to light a fire under Congress.”

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

COVID-19 motivates Revelstoke couple to start farming

Owners say First Light Farm will strengthen local food production

New Mount Revelstoke National Park campground opening July 15

It’s the first campground built in a mountain national park in over half a century

Milestone RCMP Cops For Kids fundraiser ride going virtual

You can join and help RCMP raise funds for families and possibly win 20th anniversary cycling shirt

QUIZ: A celebration of dogs

These are the dog days of summer. How much do you know about dogs?

B.C. records 31 new cases, six deaths over three days due to COVID-19

There are 166 active cases in B.C., 16 people in hospital

Police issue warning after baby comes across suspected drugs in Kamloops park

The 11-month-old girl’s mother posted photos on social media showing a small plastic bag containing a purple substance

B.C. highway widening job reduced, costs still up $61 million

Union-only project scales back work to widen Trans-Canada

Kamloops man pleads guilty in vehicle-ramming incident that injured a Mountie

Adam Hibbert was arrested following a collision during a police pursuit on May 26, 2019

Greater Victoria nanny pleads guilty to child porn, sexual interference charges

Johnathon Lee Robichaud pleaded guilty to slew of sex crimes

Victoria man dies after skydiving incident on Vancouver Island

34-year-old had made more than 1,000 jumps

BC Wildfire Service to conduct night vision trials for helicopters in South Okanagan

This technology could assist with future firefighting operations

Most Read