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

Getting your passport has been made easier

Government of Canada doubles number of locations where Canadians can get their passports

PHOTOS: Sr. girls Lakers score gold in home tournament

The tournament was held at H.J. Cody on Dec. 14 and 15

PHOTOS: Sylvan Lake Christmas Market showcases home businesses

The Christmas Market was held on Dec. 16 at the Sylvan Lake Community Centre

Sylvan Lake moving towards greener future with Fogdog contract

At a recent meeting of Council it was decided to move forward with a contract with Fogdog Energy

PHOTOS: C.P. Blakely gets the circus treatment

The Flyin’ Bob Show has a week long residency to teach students various circus acts

Story of the Year: Deadly Humboldt Broncos bus crash

The Canadian Press annual survey of newsrooms across the country saw 53 out of 129 editors cast their votes for the Humboldt Broncos bus crash.

Privacy watchdog says legal cannabis buyers should use cash, not credit

Some countries could bar entry to individuals if they know they have purchased cannabis

‘A start:’ Alberta critical of Ottawa’s $1.6B package for ailing energy sector

A further $150 million is to be used for clean growth and infrastructure projects

Two-year-old attacked by cougar near Mission, B.C.

Boy not seriously injured in incident on Monday afternoon

Trump signs order to create US Space Command

President Donald Trump signs an executive order to create a U.S. Space Command.

Groups preparing new pipeline legal challenge, argue government’s mind made up

A Vancouver-based environment charity is readying itself to go back to court if the federal government reapproves the Trans Mountain pipeline expansion.

Notorious Toronto triple killer gets third consecutive life sentence

Dellen Millard gets third consecutive life sentence for father’s death.

‘Subdued’ housing market predicted in B.C. through 2021: report

The Central 1 Credit Union report predicts “rising but subdued sales” over the next three years, with little movement in median home prices.

A journey through 2018’s top pop culture moments

Was there any pop culture this year? Of course there was.

Most Read