CANADA AGREES TO REVISED TRANS-PACIFIC PARTNERSHIP DEAL
Jan 23, 2018
By Bob Komsic
The Trudeau government’s agreed to a reworked version of the Trans-Pacific Partnership.
The deal follows talks in Japan with the 11 countries still committed to the TPP.
Prime Minister Justin Trudeau set off an international controversy when he did not sign an agreement-in-principle during talks in Vietnam last November.
Canada has reportedly made ”real gains” in the areas of labour and environment and suspended what Ottawa saw as problematic dispute settlement provisions and an intellectual property section.
The new deal already faces criticism from the Auto Parts Manufacturers’ Association.
While Washington pushes for a new North American Free Trade Agreement that increases domestic content requirements, the association says the revised TPP reduces local requirements and lets more product from non-TPP countries, like China, into the market.
Unifor President Jerry Dias was also quick to slam it.
The revised deal comes exactly one year after Donald Trump withdrew the U.S. from the original agreement.
Japan hopes to persuade Washington to join the new deal, which comes the same day the latest round of NAFTA talks begins in Montreal.