Canada is “ready for anything” in NAFTA talks, according to Foreign Affairs Minister Chrystia Freeland, who teed up the sixth and crucial round of negotiations in an interview with CTV’s Question Period. “I think that it is only sensible and prudent for us to take the president at his word [on threatening to withdraw from NAFTA], so we are absolutely prepared for every eventuality,” she told Evan Solomon. We ought to assess whether it’s even possible to take the president at his word when that word runs the risk of changing from one day to the next. Arguably the most compelling commentary on this file came from former Foreign Affairs Minister John Baird on BNN last week, when he said the Liberals are going to have to cede ground on their progressive trade agenda in order to get a deal done.. Also have to point out  BNN's Jon Erlichman has heard there’s some doubt about whether U.S. negotiators can even pick up their pencils in Montreal so long as a government shutdown persists in Washington.

U.S. GOVERNMENT SHUTDOWN

The Senate is planning to vote at 12:00 p.m. ET on a short-term spending bill that would turn the lights back on until Feb. 8 before moving on to politically divisive immigration matters. Investors really don’t seem to care too much about the shutdown that started on Saturday, with futures trading only marginally lower. The real action is in the currency market, where the U.S. dollar is trading lower against every major currency. We’ll track developments throughout the day in D.C., where the Senate bill (if passed) would then be subject to a vote in the House of Representatives.

 

SOBEYS CEO CHIRPS BEZOS

At least that’s one way of interpreting Michael Medline’s comments in Sobeys’ press release today about its e-commerce strategy. “Sobeys intends to play to win in Canadian online grocery shopping. … This [partnership with Ocado] will offer consumers the biggest selection, freshest products and most reliable delivery available anywhere on the planet,” Medline said in a not-so-subtle jab at his rivals. The pact with Ocado will cover the online shopping platform, a new warehouse and truck delivery routing. Sobeys aims to have the new online service up and running in the Greater Toronto Area in two years or so.

OTHER NOTABLE STORIES:

-Nearly half of Canadian independent business owners say they would not recommend their kids follow in their footsteps, according to a new report released by the Canadian Federation of Independent Business, which also shows regulations cost businesses $36.2 billion per year.

-Saudi Arabia’s energy minister said yesterday “there is a consensus to continue” coordinated oil production beyond this year.

NOTABLE RELEASES/EVENTS

-Notable earnings: Netflix, Halliburton

-Notable data: Canadian wholesale trade

-8:30 a.m. ET: Alimentation Couche-Tard holds investor day meeting in Toronto

-9:00 a.m. ET: International Monetary Fund releases World Economic Update

-9:00 a.m. ET: Ontario Finance Minister Charles Sousa holds media avail in Toronto prior to launching pre-budget consultations

-9:45 a.m. ET: Foreign Affairs Minister Chrystia Freeland meets with Mexican Economy Secretary Ildefonso Guajardo in Toronto (photo op)

-1030 a.m. ET: International Trade Minister François-Philippe Champagne delivers speech to Montreal Chamber of Commerce

-4:30 p.m. ET: National Energy Board opens detailed route hearings for Trans Mountain Expansion Project in B.C. Lower Mainland 

Every morning BNN's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.