Finance Minister Bill Morneau speaks to the Economic Club of Canada in Ottawa on Thursday, Nov. 22, 2018. THE CANADIAN PRESS/Sean Kilpatrick

Morneau hopes new NAFTA deal signed next week, stresses tariff issue is separate

Finance Minister Bill Morneau says Canada is working with the U.S. to solve the tit-for-tat tariff dispute.

Finance Minister Bill Morneau says he’s hopeful the newly struck North American free-trade deal will be signed next week — and suggests Canada could sign even with stinging U.S. tariffs in place.

Morneau was asked by reporters after a speech today if the government should still consider signing the new continental trade deal even if the United States keeps its heavy import taxes on Canadian aluminum and steel.

He says Canada is working with the U.S. to solve the tit-for-tat tariff dispute and he stresses Ottawa won’t make one set of negotiations contingent on another.

Morneau says there’s work going on behind the scenes to make sure the legal document defining the United-States-Mexico-Canada Agreement (or USMCA) is exactly as agreed and adds that he has every reason to believe the work is moving along at a good pace.

He was speaking to the Economic Club of Canada in Ottawa this morning, one day after he released a fall economic statement packed with billions of dollars worth of tax incentives for corporate Canada.

Ottawa’s long-awaited plan to help the country compete with the United States for investment dollars comes in response to major American tax and regulatory reforms that many in the business community warn has eliminated Canada’s edge as an investment destination.

Read more: Canada could ratify new NAFTA even if U.S. tariffs stay put: Trudeau

Read more: Trudeau to meet key Pacific trade partners at APEC leaders’ summit

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

Just Posted

Conservation: Two elk unlawfully shot in Northern Vancouver Island

‘The elk also did not have all of the edible portions of meat removed’

Nanaimo, Royal Jubilee to be Vancouver Island’s COVID-19 frontline hospitals

Other Island hospitals will be admitting COVID-19 patients and will be used in a support role

Port Hardy’s annual summer festival FILOMI Days cancelled due to COVID-19 pandemic

Port Hardy’s biggest community celebration happens every year from July 17 to 19.

Reflecting on life during a pandemic

‘This is really a once in a lifetime moment where everything has come to a grinding halt’

COVID-19: 4 new deaths, 25 new cases but only in Vancouver Coastal, Fraser Health

A total of 1,291 people have tested positive for the novel coronavirus

COVID-19: Don’t get away for Easter weekend, Dr. Bonnie Henry warns

John Horgan, Adrian Dix call 130 faith leaders as holidays approach

COVID-19: Trudeau says 30K ventilators on the way; 3.6M Canadians claim benefits

Canada has seen more than 17,000 cases and at least 345 deaths due to COVID-19

Comox spring training cancelled for Snowbirds next month

The team announced that due to ongoing travel restrictions they will not be training in the Valley

Some Cowichan schools to reopen for children of essential-services workers

Cowichan Valley will open 8 elementary schools this week

RCMP call on kids to name latest foal recruits

The baby horses names are to start with the letter ‘S’

Physiotherapists turn to technology to reach patients during COVID-19

Just because services, jobs, and socializing have been put on hold, it… Continue reading

As Canadians return home amid pandemic, border crossings dip to just 5% of usual traffic

Non-commercial land crossing dipped by 95%, air travel dropped by 96 per cent, according to the CBSA

Logan Boulet Effect: Green Shirt Day calls on Canadians to become organ donors

While social distancing, the day also honours the 16 lives lost in the 2018 Humboldt Broncos Crash

Most Read