European Union Lawmakers Back Canada Trade Deal

DanIndustry News Release, Trade

European union Canada trade
The European Union Parliament backed a measure Wednesday approving the Comprehensive Economic and Trade Agreement between the European Union and Canada. The vote means large parts of the EU-Canada deal, notably tariff reduction, may finally enter into force some eight years after negotiations began, according to Reuters. Backers of the agreement say CETA will increase trade between Canada and the EU by 20 percent. The move marks a success for open market policy supporters following protests over CETA and opposition to multilateral trade deals by U.S. President Donald Trump. Under the trade agreement between Canada and the EU Canada will eliminate duties for 90.9 percent of all its agricultural tariff lines. EU member countries must approve other parts of the trade agreement, a process that may take several years.

From the National Association of Farm Broadcasting news service.