- Title: Canadian PM Trudeau not worried about fate of NAFTA trade accord
- Date: 7th October 2016
- Summary: TORONTO, ONTARIO, CANADA (OCTOBER 7, 2016) (REUTERS) CANADIAN PRIME MINISTER, JUSTIN TRUDEAU, AND STEPHEN ADLER, PRESIDENT AND EDITOR-IN-CHIEF OF REUTERS AT DISCUSSION FORUM (SOUNDBITE) (English) STEPHEN ADLER, PRESIDENT AND EDITOR-IN-CHIEF OF REUTERS, SAYING: "Now several people want to know who you favor in the U.S. presidential election. I'm not even going to ask because I've just given up in asking that question of heads of government, unless you want to answer that." TRUDEAU TAKES A SIP OF WATER FROM HIS GLASS (SOUNDBITE) (English) STEPHEN ADLER, PRESIDENT AND EDITOR-IN-CHIEF OF REUTERS, SAYING: "Okay." (SOUNDBITE) (English) JUSTIN TRUDEAU, CANADIAN PRIME MINISTER, SAYING: "And I know that rhetoric gets heated in election campaigns. But the fact is that NAFTA has been incredibly good for all three of our economies and for workers across our economies. It has created economic opportunities and tremendous amount of jobs. So I'm not overly worried that once whomever gets elected, looking at the actual numbers, looking at the actual facts, we will see that Canadians, Americans, and everyone has benefited from that trade deal." TRUDEAU AND ADLER (SOUNDBITE) (English) JUSTIN TRUDEAU, CANADIAN PRIME MINISTER, SAYING: "We just have to make sure that we're making the right arguments for trade demonstrating that it can be and must be shared broadly in its benefits across all segments of society." TRUDEAU AND ADLER (SOUNDBITE) (English) JUSTIN TRUDEAU, CANADIAN PRIME MINISTER, SAYING: "We're not dogmatic about what works. We're looking at what the evidence says, how things are going, we're monitoring very closely the data that's coming in, whether it's job numbers, whether it's investments, whether it's commute times, we're responding to what's actually out there and how much government can and will help in any given situation. So I'm happy to say that we continue to believe that investing in infrastructure is a very strong lever towards creating immediate bumps in good jobs and in meaningful economic activity that will also lead to medium term and long term opportunities." TRUDEAU AND ADLER (SOUNDBITE) (English) JUSTIN TRUDEAU, CANADIAN PRIME MINISTER, SAYING: "I think there is always going to be a tension between yes, we want to get this money out the door to help as many people with good jobs as possible. But it's not just about creating good jobs in the short term, we have to be confident that they are the right investments for the medium and long term." END OF DISCUSSION FORUM
- Embargoed: 22nd October 2016 17:02
- Keywords: Trudeau Justin Trudeau Canada prime minister NAFTA
- Location: TORONTO, ONTARIO, CANADA
- City: TORONTO, ONTARIO, CANADA
- Country: Canada
- Topics: Government/Politics,International Trade
- Reuters ID: LVA001530CC3R
- Aspect Ratio: 16:9
- Story Text: Canadian Prime Minister Justin Trudeau said on Friday (October 07) he was not overly worried about the fate of the North American Free Trade Agreement (NAFTA), even though both main U.S. presidential candidates have said they want changes to the deal.
Trudeau side-stepped a question directly about the outcome of the Nov. 8 vote in Canada's largest trade partner, but was quick to add in an interview at a Reuters Newsmaker event in Toronto that the clock cannot be turned back on globalization.
"I know that the rhetoric gets heated in election campaigns, but the fact is that NAFTA has been incredibly good for all three of our economies," he said.
Republican presidential candidate Donald Trump has variously vowed to tear up or renegotiate the three-nation deal. This could cripple Canada, which sends 75 percent of its exports to the United States.
Mexico is the third partner in the accord.
Canadian officials also expect challenges if Democrat Hillary Clinton wins the election, noting she has also called for changes to NAFTA.
"I'm not overly worried that once whomever gets elected, looking at the actual numbers, looking at the actual facts, we will see that Canadians, Americans and everyone has benefited from that trade deal," said Trudeau.
In the run-up to the election, Canadian diplomats have been fanning out across the United States to talk up the benefits of trade with state and local leaders.
Trudeau acknowledged peoples' frustrations about missing out on the benefits of free trade but said the world could not and should not turn its back on globalization.
"We just have to make sure that we're making the right arguments for trade, demonstrating that it can be and must be shared broadly, the benefits, across all the sectors of society," he said.
Canada, a major oil exporter, is struggling to cope with a prolonged slump in crude prices that has slashed budget revenues and led to higher unemployment, particularly in the energy sector.
Trudeau said his Liberal government was trying to dispense infrastructure investments into the economy as quickly as possible to spur growth while ensuring the right investments were being made.
"I think there's always going to be a tension between yes, we want to get this money out the door to help as many people with good jobs as possible, but it's not just about creating good jobs in the short term, we have to be confident that they're the right investments for the medium and long term," he said.
The Liberals came to power last year promising C$60 billion ($45 billion USD) in new infrastructure spending, bringing the total to C$120 billion ($90 billion USD) overall over 10 years. - Copyright Holder: REUTERS
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