YT Looking for Exemptions on Mining Under New NAFTA and no impacts to Own-Source-Revenue.

Tuesday, 18 July 2017 09:50

For Silver the new free trade agreement is about modernization.

EDMONTON-Canada’s Premiers are strategizing today on how to move forward with re-negotiations on the North American Free Trade Agreement with the United States, which could begin as early as August. The Trump Administration has released an 18-page document on how it wants to proceed.

The Premiers are hoping to reach unity going forward, wanting to avoid fractions or side agreements as seen in the new health care deal with Canada.

The Yukon will not be heavily impacted by the improved NAFTA, but for other provinces, trade amounts to millions of jobs, with close to 30 states. Premier Sandy Silver has signalled that there are important considerations he would like to achieve out of the new agreement, but most importantly having a voice at the table, if discussions go sideways.

He also wants to ensure that Yukon is not impacted negatively in creation of its own-source-revenues. “We’ve got to make sure as we modernize we somehow don’t limit or restrict future own source revenues in the Yukon.”

Mining is on the mind of Silver as he is looking to get an exemption for the mineral industry. “We do export a lot of minerals and to the States. I think what we need to do is look at future generations as well. We have to make sure the conversations we have on a national basis are not prescriptive to Yukon on moving as we diversify our economies.”

Natural Resources Canada says in 2016, Yukon produced over $400 million worth of minerals. $202 million worth of copper and $187 million in gold. Silver production came third.

Silver concedes the NAFTA talks are about modernization, saying the last review was well before the internet. “Its not just a consideration for mining, but that’s going to be on the table as well, but making sure the considerations we take now as we modernize, this more about modernization than anything else.”

On a national scale, many Premiers have been state-side to discuss with various politicians, the importance of a healthy trade relationship south of the border. Ontario Premier Kathleen Wynn called the upcoming negotiations a critical situation for Canada. She says the provinces and territories will not be having a direct seat at the negotiating table, but suggests they will be working behind the scenes to ensure things go as smooth as possible.

Canada’s Ambassador to the U.S. David MacNaughton says Canada will be successful in its negotiations saying the country is well prepared. He is trying to avoid a bad deal and would like to keep the dispute resolution process in place, as Canada has been highly successful under Chapter 19.

The leaders all agree that getting a new free trade agreement with the U.S. will not be a short order and will most likely last several months.

(Dan Jones July 18, 2017)