Readout: Minister of Finance Meets With United States Secretary of the Treasury at G7 Meetings in Italy
May 12, 2017 – Bari, Italy – Department of Finance Canada
The Honourable Bill Morneau, Canada's Minister of Finance, met today with Steven Mnuchin, Secretary of the Treasury of the United States of America, on the margins of the G7 Finance Ministers Meetings in Bari, Italy. They discussed a range of issues regarding the economic ties of Canada and the U.S.
In recognition of both countries' common focus to create jobs and foster economic growth for the middle class, Minister Morneau emphasized how the secure and efficient flow of goods, services, capital and people across the Canada-U.S. border is vital to the livelihoods of millions of Americans and Canadians.
Canada and the U.S. enjoy one of the closest relationships between any two countries in the world, with the North American Free Trade Agreement serving as the backbone of our trade relationship. This trade partnership is held up as an international model to follow. It is balanced and fair, and supports growth, innovation and well-paying middle class jobs in both countries.
Canada and the U.S. continue to engage in productive discussion. Minister Morneau and Secretary Mnuchin spoke about the importance of preserving and strengthening the Canada-U.S. trade relationship, and reinforced its role in raising the standard of living of middle class families in both countries. Minister Morneau defended Canada's position on open trade and recent trade issues such as softwood lumber. To that end, the Government of Canada disagrees strongly with the baseless duties applied to Canadian softwood lumber products, and remains committed to working with the U.S. Administration to achieve a durable long-term solution.
The Minister and Secretary concluded their meeting by acknowledging the longstanding and unique economic partnership Canada and the United States enjoy, and committed to maintaining strong cooperation and an open dialogue to further develop this important relationship.
- Canada-United States bilateral trade in goods and services reached nearly $882 billion in 2016.
- Canada and the United States benefit from robust trade and investment ties and integrated economies that support millions of Canadian and U.S. jobs. Nearly 9 million American jobs depend on trade and investment with Canada.
- Nearly 400,000 people and over $2 billion worth of goods and services cross the Canada-United States border every day.
Media may contact:
Office of the Minister of Finance
Department of Finance Canada