Finance Minister Bill Morneau to Welcome U.S. Treasury Secretary Steven Mnuchin
June 2, 2017 – Ottawa, Ontario – Department of Finance Canada
Canada and the United States have one of the strongest partnerships between any two nations—one that is built on common geography, history, culture, and mutual respect. The Canada-U.S. relationship is a model for the world: it is balanced and fair, and it supports growth, innovation, and well-paying jobs for the middle class in both countries.
Finance Minister Bill Morneau today announced that he will welcome his counterpart, U.S. Treasury Secretary Steven Mnuchin, on his first visit to Canada in Ottawa on June 9, 2017.
“I look forward to welcoming Secretary Mnuchin to Canada, and to another productive day with my U.S. counterpart. As we discuss the importance of our economic and business relationships, our shared interests keep our Canada-U.S. relationship strong.”
- Bill Morneau, Minister of Finance
- Canada and the United States share a longstanding relationship, through people-to-people ties and a strong trading and investment relationship:
- Nearly 9 million American jobs are dependent on trade and investment with Canada.
- Canada and the U.S. have the largest, two-way, balanced trading relationship in the world, reaching nearly $882 billion in 2016.
- Every day, more than $2.4 billion worth of goods and services and 400,000 people cross the Canada-U.S. border.
- Canada is the number one market for most U.S. states, and is among the top three customers for 48 of them.
- Canada and the U.S. benefit from a highly integrated manufacturing sector, with products crossing the border several times before final assembly and sale in both countries.
- Capital flows are balanced, with the U.S. stock of direct investment totalling half of all foreign direct investment (FDI) in Canada and Canadian direct investment one of the main sources of FDI into the U.S. In 2016, Canadian stock investment in the U.S. was over $474 billion, accounting for 45% of Canadian investment abroad.
Media may contact:
Office of the Minister of Finance
Department of Finance Canada