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Resolute Forest Products Inc
Symbol RFP
Shares Issued 90,453,964
Close 2018-10-26 C$ 14.81
Market Cap C$ 1,339,623,207
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FP says Magna, others hear USMCA still needs signing

2018-10-29 08:57 ET - In the News

See In the News (C-MG) Magna International Inc

The Financial Post reports in its Saturday edition that crucial United States Congress votes on the new North American trade deal may be six months or more away, but the vote counting has already begun. The Post's Tom Blackwell writes that in Trump administration offices, embassies and lobbyist offices, staff are reading the tea leaves of public comments, letters signed and past votes to track support for the United States-Mexico-Canada Agreement. Some see a bumpy road ahead. Lawyers at Dickinson Wright have estimated the Senate and House of Representatives are a combined 85 votes short of what is needed to pass the deal. "It is an uphill battle to get a trade deal through Congress in an ideal political environment," said the firm's Dan Ujczo. "If we have a divided government (after the mid-terms) that hill becomes a mountain." Canadian officials say they sense a generally positive response to the accord on Capitol Hill, but anticipate drama. The Globe cites an unnamed Canadian source: "It's a difficult issue for Congress to deal with. Trade agreements come with a lot of debate and a certain amount of noise." The USMCA still has to be signed by the three countries' leaders, but that is likely to happen Nov. 30.

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