The biggest trade deal in history — the Trans-Pacific Partnership — was assumed to be dead when the United States pulled out last January. The timing couldn’t be better for the Liberal government, which has always been ambiguous about its enthusiasm for the TPP. Product arriving from Mexico and Australia pays much lower duties because those countries already have trade deals with Japan. If Canada ratified the TPP, Canadian producers would likely take market share from U.S. suppliers who would continue to pay the high tariff. The Liberals are particularly keen to brand any TPP11 deal as part of its “progressive trade” agenda — most likely by strengthening the environmental chapter.

Source: National Post September 21, 2017 00:00 UTC