UK-Canada Interim Trade Deal in Limbo
Canada’s opposition parties, meanwhile, are blaming the governing Liberals.
At least 87 percent of the trade in goods would remain duty-free even without the agreement being in place by Jan. 1, due to World Trade Organization commitments. However, products that could face tariffs include lobster, maple syrup, beef, certain plastics, as well as some trucks and other vehicles. A study by Global Affairs Canada suggested that 2,430 Canadian jobs would be lost without a deal.
The U.K. left the EU on Jan. 31, 2020, and will no longer be covered by the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) as of Jan. 1, 2021. Canada and the U.K. are seeking an interim agreement to avoid any interruption to market access during the transition between the CETA and a Canada-U.K. bilateral trade deal.
Dairy farmers are satisfied with the compensation they will receive for anticipated business impacts from trade deals, said Dave Taylor.
Photo provided by Dave Taylor Canadian dairy farmers will receive over $1.4 billion in the next three years from the federal government to compensate for recent trade deals. On Saturday, Marie-Claude Bibeau, minister of agriculture and agri-food, announced the funds as part of a $1.75-billion trade deal compensation package granted to the sector last year, which will be rolled out significantly faster than originally announced. The money was first slated to be distributed over eight years, not three. Canada’s poultry and egg sectors, which, like dairy, are supply-managed, will also receive compensation to the tune of $691 million over the next 10 years, said Bibeau.
Minister Discusses Canada-U.K. Trade Bill – December 9, 2020
Mary Ng, the minister of small business, export promotion and international trade, speaks with reporters on Parliament Hill following the introduction of the federal government’s bill to implement an interim trade agreement between Canada and the United Kingdom.
The Canada–United Kingdom Trade Continuity Agreement is a temporary deal necessitated by the U.K.’s exit from the European Union and, consequently, from the Canada–European Union Comprehensive Economic and Trade Agreement (CETA). The two countries are expected to enter into negotiations for a permanent trade agreement in the coming year. (no interpretation)
Digital trade top agenda item in pending Canada-U.K. trade talks DENE MOORE Published December 10, 2020
Sean Kilpatrick/The Canadian Press
When Canada and Britain begin negotiations as early as next year on a bilateral, post-Brexit trade deal, digital trade will be a top priority.
Digital trade – the transaction of goods and services and flow of data online – is considered the fastest-growing segment of international business, adding trillions of dollars to global gross domestic product each year.
Yet, the digital revolution to date has taken place largely in regulatory purgatory, growing exponentially in the absence of a multilateral governance structure, which makes its presence in trade agreements both necessary and complicated.