Newspaper article The Canadian Press

NAFTA Uncertainty Could Be Pausing Business Investment in Canada, Morneau Says

Newspaper article The Canadian Press

NAFTA Uncertainty Could Be Pausing Business Investment in Canada, Morneau Says

Article excerpt

NAFTA uncertainty affects investment: Morneau

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TORONTO - Bill Morneau says he understands the uncertainty surrounding NAFTA might be causing some companies to hesitate in making investment decisions.

The federal finance minister made the comments today when asked about the Bank of Canada's warning this week that elevated uncertainty over the future of the North American Free Trade Agreement would drive down investment in Canada.

Central bank governor Stephen Poloz says companies are becoming increasingly concerned about the unknowns of the ongoing NAFTA talks.

Poloz says the uncertainty means firms may decide to redirect their investments south of the border -- especially after the U.S. announced major, business-friendly tax reforms.

He estimates the trade-policy uncertainty will lower investment by about two per cent by the end of 2019. …

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