E.U.-Canada Trade Deal In Trouble Again

DanIndustry News Release, Trade

The European Parliament Employment Committee voted to reject the Comprehensive Economic and Trade Agreement between the E.U. and Canada. The margin was narrow at 27-24. The Committee advised against approval over fears that more than 200,000 E.U. jobs would be lost. Opponents of CETA also want protections for foreign company investments against government interference. The E.U. Foreign Affairs and Environmental Committees are expecting to cast votes on the deal as well. Parliament is expected to hold a final vote on the deal in 2017. If it’s passed, the deal also needs approval from each of the 28 member states as well as Belgium’s regions. The Wallonia region of Belgium held up the approval process earlier in the year, putting the deal in rocky waters. CETA has been called a test model for an even more controversial trade agreement between the U.S. and Europe, called the Transatlantic Trade and Investment Partnership. The National Pork Producers Council says they support the agreement but are skeptical any progress is being made due to the stubbornness of E.U. negotiators regarding various parts of the potential agreement.

From the National Association of Farm Broadcasting news service.