Canada sends USA a trade message, joins 11-nation Trans-Pacific deal

by Antonio Miles January 24, 2018, 11:34
Canada sends USA a trade message, joins 11-nation Trans-Pacific deal

Some representatives of the Canadian auto industry slammed Canada's decision to sign a revised Trans-Pacific Partnership on Tuesday, calling the deal harmful to the auto sector and warning that it undermines Canada's position in NAFTA negotiations.

He also said Japan would explain the importance of the deal to Washington in hopes of persuading it to join.

However, sticking points remained, such as Canada's insistence on protection of its cultural industries such as movies, TV and music.

A statement from the government of Singapore, which confirmed the deal, said the parties would seek to sign the TPP by early March.

It also gave Prime Minister Justin Trudeau a chance to drive home his government's message that, in a world of increasing protectionism, the only trade deals worth reaching are ones that make sure economic benefits are spread widely.

With the deal reached, both Mexico and Canada would have access to valuable Asian markets and leaves the United States at a competitive disadvantage.

News that negotiations on the CPTPP had been successfully concluded comes on the same day that U.S., Mexican and Canadian officials return to the table to discuss reworking NAFTA, the North American free trade pact.

"This will disadvantage auto companies that have invested millions in jobs and sustaining manufacturing in Canada, while providing a competitive advantage to the TPP countries involved", he said.

The original TPP - it would have been the world's largest free-trade deal - was signed in Auckland in early 2016 with mass protests outside the event.

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That deal is set to cover more than 1.2 billion people across Africa, from Morocco all the way to South Africa.

Member countries have been talking about the future of the TPP trade pact since President Donald Trump withdrew the United States from the multilateral deal last January.

Trudeau drew worldwide media criticism there by deciding not to sign an agreement-in-principle on what was then known as TPP11, following the USA withdrawal.

"B+LNZ and MIA thank Prime Minister Jacinda Ardern, Trade Minister David Parker, and the numerous officials who have worked hard to conclude the negotiations".

Trudeau said Canada wanted provisions for environmental and labor rights.

The new pact - known officially as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or TPP 11 - will be signed in Chile on March 8, Motegi announced.

Canada's chief NAFTA negotiator downplayed the effect on his work. "They managed to get the whole deal fixed up today", she says.

These issues are now being dealt with in separate negotiations, allowing a larger agreement to go forward.

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