10:05:21 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 989,216,555
Close 2018-01-12 C$ 53.34
Market Cap C$ 52,764,811,044
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Globe/wire say Brookfield's Flatt downplays NAFTA pain

2018-01-12 08:35 ET - In the News

The Globe and Mail reports in its Friday edition that Canada's economy is not at major risk even if Donald Trump follows through on threats to withdraw from NAFTA, said the heads of two of the country's largest asset managers. A Bloomberg dispatch to The Globe quotes Michael Sabia of Quebec's Caisse and Bruce Flatt of Brookfield Asset Management as telling a Toronto conference that a U.S. pullout would be just the prelude to another negotiation. "We need to think about that in the context of making sure that we handle things in a way that we're well positioned for the subsequent negotiation," Mr. Sabia said, adding that the two economies are too intertwined to not require further trade talks. He also noted that the U.S. business community is largely opposed to the Trump administration's stance on NAFTA. Canadian officials say the chances of Mr. Trump quitting the pact are greater than 50 per cent. Mr. Flatt of Brookfield said that any pain from NAFTA tensions would be short-lived, adding there will probably be a new deal in the end. "For some businesses, yes, it's going to suck for a while. It will pass," Mr. Flatt said. The U.S. is looking into allegations of unfair subsidies on dairy products and aircraft.

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