Thank you, Ms. Megyery.
Ms. Greenwood, my colleague raised some private sector research and I've seen that research, as well as others, as I'm sure you have. Significant private sector research demonstrates the potential impact of U.S. withdrawal from a North American free trade agreement. As you mentioned at the beginning of your testimony, that was a very real possibility at the beginning of these negotiations.
I refer here to Scotiabank, which said that a U.S. withdrawal from NAFTA would have created a situation where “the Canadian economy would stand a strong chance of falling into a recession”. Similarly, the Royal Bank of Canada raised alarm bells.
The research appears clear to me that the preservation of a free trade agreement with our largest trading partner can't be understated. I was wondering if you could comment on that.