The Trans-Pacific Partnership, what would be the world’s largest trade deal, may end up getting the rug yanked out from under it.
American president-elect Donald Trump said on Nov. 22 that he would signal his intention to withdraw from the deal the first day he takes office. That withdrawal wouldn’t happen until February 2018 because the deal has a two-year delay from when it was signed by its 12- member countries this February. Unless it’s amended or other countries agree to sign on, without the U.S., the deal is dead.
An amended deal is exactly what Canada should be leading a discussion on and pushing for, said president of the Canadian Agri-Food Trade Alliance, Brian Innes. With 90 per cent of farmers depending on exports and more than half of everything that Canadians produce crossing our border, “competitive access to global markets is not a choice, it is a requirement,” said Innes.
The Grain Growers of Canada told Farmers Forum that the deal was “vital” to Canada’s economy, and that opting out would leave Canadian grain farmers at a serious competitive disadvantage internationally.
The pork industry had a similar view of the importance of the deal. The Canadian Pork Council estimated Canadian pork producers would lose on average $5 per animal if Canada opted out.
Meanwhile, the beef industry saw the Pacific Rim trade deal as key in gaining access to Asian markets, with the Canadian Cattlemen’s Association predicting beef exports to Japan to eventually double or triple.