Thank you, Madam Chair.
Mr. Macklem and Ms. Rogers, thank you for being here. I'm honoured to have the opportunity to speak with you today. I have a lot of questions and a very short time, and so I'll try to move quickly.
You spoke about the Canada-U.S.-Mexico agreement earlier. I want to spend a moment on CUSMA. I'm fortunate to sit on the Standing Committee on International Trade and last fall, we had a study on CUSMA and made some recommendations. So far, so good.
My question is on potential impacts. The business representatives who appeared before the committee were unanimous that CUSMA must be preserved. The people who came from the United States also said that CUSMA must be preserved. What would be the short or medium-term impacts, if tomorrow morning, our neighbour to the south ripped up the agreement and withdrew from CUSMA, which they can still to do? Have you looked at various scenarios? There may be impacts on businesses in the very short term and others in the medium-term. Have you prepared a scenario for this issue?