How Soon Can Canada Ratify the USMCA Trade Agreement? - Forex News by FX Leaders
How Soon Can Canada Ratify the USMCA Trade Agreement?

How Soon Can Canada Ratify the USMCA Trade Agreement?

Posted Wednesday, January 22, 2020 by
Arslan Butt • 1 min read

After the US recently ratified the revised USMCA trade agreement, the pressure is on Canada to play catch up so that the agreement can be enforced. However, Canadian PM Justin Trudeau’s sudden urgency to ratify the USMCA could get delayed by the opposition which wants more time to study the deal intently before its ratification.

Officials worry that the process could delay until April, which is likely to rub US President Donald Trump the wrong way. With the 2020 presidential elections coming up in a few months, implementing the revised USMCA would be seen as a major victory for Trump who is seeking a reelection.

Trudeau’s government is expected to present the legislation for ratifying the USMCA on January 29, but his is a minority government, which could create hurdles in passing the legislation quickly. His party, the Liberals, no longer enjoy a majority in the House of Commons and could face challenges if other parties wish to slow down the ratification process.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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