""We've already absorbed a pretty significant hit from all the uncertainty I think about $200 million of revenue impact, maybe higher," Creel told analysts on a conference call Wednesday. The chief executive, who helms the only railroad to span all three countries on the continent, said the upcoming renegotiation of the United States-Mexico-Canada Agreement can be mutually beneficial while also rejigging cargo flows to reduce the trade deficit that U.S. President Donald Trump has repeatedly cited as a source of aggravation."
""Positive renewal of the USMCA can be true at the same time, because trade between these three nations, even if it gets rebalanced a bit, is critically important to all three nations' success. We depend upon each other," he said. The chief executive expressed hope that the deal, which has seen trilateral trade more than quadruple to over US$1.6 trillion since the North American Free Trade Agreement came into effect in 1994, would be renewed this summer."
Canadian Pacific Kansas City absorbed about $200 million of revenue impact from the ongoing U.S. tariff war, with potential for additional losses. The company operates the only railroad spanning Canada, the United States and Mexico and anticipates that renegotiation of the USMCA can be mutually beneficial while allowing cargo-flow adjustments to help reduce the U.S. trade deficit. Trilateral trade has more than quadrupled to over US$1.6 trillion since NAFTA began in 1994. CPKC posted revenue of $3.92 billion, a 1% increase, driven by efficiency gains, slight volume growth and record grain revenues partially constrained by rain at the Port of Vancouver.
Read at www.cbc.ca
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