Canada’s federal government is setting the stage to ratify the new free trade agreement with the U.S. and Mexico.
Foreign Affairs Minister Chrystia Freeland introduced a motion in the House of Commons on Monday that introduces legislation needed to ratify the renegotiated North American Free Trade Agreement.
The ways and means motion is a required step on the road to ratification because it addresses tax and financial measures that need to be taken into account with respect to the revised trade deal between Canada, Mexico and the U.S.
"The introduction of this motion comes after our government secured a full lift of the U.S. steel and aluminum tariffs, something which is very good news for Canadians and for Americans. Importantly, we have not accepted any quotas on the export of Canadian steel and aluminum," Freeland said.
Canada, the U.S. and Mexico signed the new United States-Mexico-Canada Agreement, known as “USMCA,” on November 30, 2018 after a protracted negotiation. But significant moves toward ratification in Canada had been delayed by American tariffs on Canadian steel and aluminum. Now that those tariffs have been resolved, the Liberal government of Prime Minister Justin Trudeau is pursuing ratification before the coming federal election in October.
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