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Some industries will struggle under the free trade deal with the European Union, the PBO has warned.
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Last October, we were treated to the tale of the off-again, on-again Canada-European Union summit featuring CETA, the Comprehensive Economic and Trade Agreement. The agreement was signed in a hasty and somewhat shaky ceremony on October 30. It was a comedy of errors right from the beginning.
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Paul Magnette is not a household name in Canada, but he should be: he is best known for making Chrystia Freeland, our former Trade Minister, cry. Magnette, minister-president of Belgium's French-speaking Wallonia region, raised the ire of the international economic community: How dare a small region like Wallonia bring down the work of 28 other countries? And how dare he challenge a free trade agreement? Well, here's the thing: He vows to do so again.
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For as much as a government wishes to enact progressive policies, trade agreements -- such as the Canada-EU Economic and Trade Agreement (CETA) and the Trans-Pacific Partnership (TPP) -- curtail their abilities to redistribute income and legislate for the common interest. These deals are vectors of inequality.
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Sometimes, politicians can say just enough to let the words mean anything to anyone.
The Trudeau government has been calling CETA the "most progressive" free trade deal ever. But the deal does not require the payment of living wages; it does not mandate a crackdown on tax evasion; and it certainly does not try to guarantee the "peace of mind ... that come[s] with stable, full-time contracts."
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The vote comes at a time when populist parties in Europe and President Donald Trump in the United States, have been looking increasingly inward.
CETA, the EU-Canada Comprehensive Economic and Trade Agreement, has everyone talking about Canada in Brussels, the EU capital, ahead of February 15's vote - and it's not always good. So, here is a tip for Prime Minister Justin Trudeau ahead of his Thursday speech at the European Parliament.
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The full EU parliament is slated to vote on CETA in early February.
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When the full text of CETA was released in February 2016, we all thoroughly analyzed the deal. Each of us came to the conclusion that it wasn't a good deal for workers, so together we set to work to find areas where we could either block the deal or change it in a way that would protect workers' and citizens' interests in Canada and Europe.
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Thanks to access to capital, technology and talent, the UK has established itself as the leading global Fintech centre, with London at its centre. Canada is also a leading Fintech nation. There is excellent access to capital, technology and talent, from the Toronto-Waterloo corridor in Ontario to Vancouver in British Columbia.
The federal government is ramming ratification of the Comprehensive Economic and Trade Agreement (CETA) through Parliament in a process as undemocratic as the deal itself. Bill C-30 to implement the trade deal with Europe was brought before Parliament for second reading this week, and is expected to pass by today.
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Chief negotiator slammed for "complete misunderstanding" of CETA's impact on drug prices.
It was one of the world's most ambitious trade deals.