Meet­ing of­fers com­fort for Cor­po­rate Canada

The Hamilton Spectator - - CANADA & WORLD - THE CANA­DIAN PRESS

The pos­i­tive tone on trade struck on Mon­day by Prime Min­is­ter Justin Trudeau and U.S. Pres­i­dent Don­ald Trump is pro­vid­ing some mea­sure of com­fort within Cor­po­rate Canada.

Derek Nigh­bor, chief ex­ec­u­tive of the For­est Prod­ucts As­so­ci­a­tion of Canada, says he was en­cour­aged by Trump’s com­ments that he would only be “tweak­ing” the North Amer­i­can Free Trade Agree­ment with Canada and is more fo­cused on re­solv­ing trade is­sues with Mex­ico.

Nigh­bor says all in­dus­tries in Canada are look­ing to re­mind the U.S. of the im­por­tance of trade and he was pleased to see Trudeau de­liver a sim­i­lar mes­sage in Wash­ing­ton.

A joint state­ment re­leased by Canada and the U.S. af­firmed the “pro­found shared eco­nomic in­ter­ests” be­tween the two coun­tries and the $2 bil­lion in two-way trade flow­ing across the bor­der daily.

Avery Shen­feld, chief econ­o­mist at CIBC Cap­i­tal Mar­kets, said in a note that Trump’s com­ments on NAFTA should give some com­fort to Cana­dian econ­omy watch­ers.

Shen­feld did, how­ever, point out that the is­sue of a bor­der tax on im­ports to the U.S., which could prove dis­rup­tive to a wide range of in­dus­tries, was not men­tioned by ei­ther Trump or Trudeau.

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