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.

Just Posted

Pole-climbing thieves pilfering wire in Parksville Qualicum Beach area

Repairs are costly and thefts jeopardize public safety

Green Party leader Elizabeth May talks eliminating fish farming in open ocean pens

May stops in Qualicum Beach as part of Island campaign

Qualicum Beach council discusses helping out Orca Place residents

Town considers offer of temporary jobs in the future

Winter preparation underway for mid-Island highways

Drivers reminded to ready vehicles for changing conditions

‘Dirty Money’ in Nanoose Bay: Dr. Peter German to speak at ElderCollege

‘This is an evolving study’: presenting up-to-date information on B.C. organized crime

Scheer, Trudeau, Singh haggle over potential minority government outcome

If you believe the polls, it appears the Liberals and Conservatives are neck-and-neck

Scooter rider suffers life-threatening injuries in crash in Nanaimo

One person airlifted to hospital in Victoria after collision on Wall Street on Thursday

Campbell River homicide suspects arrested in Vancouver

Two men remain in custody, but have not been charged

Canucks beat Stanley Cup champs 4-3 in a shootout

Leivo nets winner, Vancouver dumps St. Louis for fourth straight win

‘The more you test, the more you find’: Beef recalls a sign of success, experts say

Despite appearances, experts say a recent rise in major recalls is not a sign of food supply problems

Talk to your kids about vaping, B.C.’s top doctor says

B.C. health officials have discovered the first vaping-related illness in the province

Alberta truck convoy plans counter-protest at climate rally with Greta Thunberg

United We Roll organizer says similar protest planned for Swedish teen’s event in Edmonton

Green Party leader Elizabeth May rolls through Vancouver Island to boost a party stronghold

Mocks media, evokes Martin Luther King, Nelson Mandela and promises change

With $4M investment, Camosun College offers first sonography program on Vancouver Island

Starting in May 2020 students from Vancouver Island can pursue a career in sonography

Most Read