I will be brief so that the public understands what this is about and make sure that this information is conveyed.
The department showed up in 2022 and told companies that if they did not quickly negotiate an agreement, the government would table the proposed legislation and give those companies a rap on the knuckles. Visa Corporation tabled an agreement that impacted very few merchants, certainly not in the food sector or the accommodations sector, at least. MasterCard Corporation tabled something else. We don’t know how it happened, since you do not want to give us the details. Therefore, that means the agreements impact very few merchants and, clearly, American Express is failing to respond.
Two years later, you’re still negotiating and no bill has been tabled. If I represented a credit card company, I would not take you seriously. Explain to me how these companies could take the Canadian government seriously when they were told they would get a rap over the knuckles if they failed to table an agreement, and you’re still at the stage of chatting with the folks at American Express.