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

Eckville Atom 1 Eagles on to zone finals

The Eagles defeated Millet 9-5 to push them through to the final round of provincial playdowns

WATCH: Ice racing on Sylvan Lake draws a crowd

The Alberta Oval Ice Racing championship series was held in Sylvan Lake over the Family Day weekend

Let the Games begin!

Team Alberta takes home gold and silver in speed skating on day one

WATCH: Historic night in Red Deer as 2019 Canada Winter Games kicks off

Star-studded Opening Ceremony features athletes from across Canada

Athletes’ medals unveiled at the official kick-off of 2019 Canada Winter Games

Medals depict Central Alberta landscape and pay tribute to First Nations

‘Our entire municipality is heartbroken’: Seven children die in Halifax house fire

A man and woman remained in hospital Tuesday afternoon, the man with life-threatening injuries

Alberta investing $3.7B to move oil by rail, leasing cars

4,400 leased railway cars will move up to 120,000 barrels of oil per day by 2020

Make sure measles shots up to date, Public Health Agency says

Measles causes high fever, coughing, sneezing and a widespread painful rash

Alberta earns three medals in Long Track Speed Skating

Alberta now has 16 medals (6-5-5) and currently sits in second place of the medal standings

Payless to close 248 Canadian stores, saying it’s ‘ill-equipped’ for market

The company will begin closing stores at the end of March

Team Alberta takes exciting victory in wheelchair basketball, remains undefeated

After three games in the tournament, Alberta is sitting in first place of its pool

UPDATED: ‘Violent’ B.C. man back in custody after Alberta arrest

Prince George man with ties to Vernon was being sought by police

After a week away, SNC-Lavalin questions await MPs returning to Parliament

Two have resigned already: Jody Wilson-Raybould was veterans affairs minister and Gerald Butts was Trudeau’s principal secretary

Chanel: Iconic couturier Karl Lagerfeld has died

He spent virtually his entire career at luxury labels catering to the very wealthy

Most Read