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

Central Coast regional emergency partnership receives funding

The funding is part of the nearly $69.5-million Community Emergency Preparedness Fund

Over 5 million of funding announced for Nuxalk Big House and CCRD parks project

The funding is joint federal, provincial and municipal and will support 24 infrastructure projects

DFO Monitors keeping watch as commercial fishery opens up

Volunteer DFO Monitors have been onsite to ensure requirements are met

Cariboo waterways swell as special weather statement, rain continues Thursday July 2

Quesnel River at Likely and Quesnel Lake seeing 20 to 50 year events

QUIZ: Put your knowledge of Canada to the test

How much do you know about our country?

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

This technology could assist with future firefighting operations

Following incident at sea, fishing lodge says it will reopen despite Haida travel ban

QCL reopens July 10, says president; Haida chief councillor describes ‘dangerous’ boating encounter

Kamloops RCMP officer’s conduct under review after blackface jokes on social media

Meinke’s Instagram is private and it’s unclear when the posts were made

NHL says 35 players have tested positive for COVID-19 since June 8

Positive rate for the league is just under 6%

Man charged in Rideau Hall crash had rifle, shotguns, high-capacity magazine: RCMP

Hurren is accused of threatening to cause death or bodily harm to the prime minister

B.C. extends income assistance exemption for COVID-19

Provincial program to match Ottawa’s CERB, student pay

Most Read