London signs post-Brexit trade deal with Canada

One month away from Brexit, the UK has reached an interim trade deal with Canada.

Montréal

It’s a deal. Canada signed a transitional free trade agreement with Great Britain, one month before Brexit. The agreement guarantees the continuity of trade between the two countries and it avoids the application of customs tariffs if the European Union and Great Britain do not reach a post-Brexit agreement. The final agreement will have to be validated by the respective parliaments of the two nations, but it already exempts tariff barriers in 98% of cases. Trade between London and Ottawa amounted to $ 33.1 billion in 2019. The British, Canadians’ largest trading partners in Europe, are Canada’s fifth largest partner in the world, after the United States, China, Mexico and Japan. Undoubtedly, “it’s a beautiful day”, Said in French Boris Johnson, taking again with humor the words of Justin Trudeau. Canadians and British are linked by historical ties, Queen Elizabeth II is the head of state of Canada, even if this position is de facto honorary. In case of “ no deal With the European Union, London will make even more use of its new agreement with Canada.

«We hope to reach a more ambitious agreement next yearBritish Trade Minister Liz Truss said as her Canadian counterpart Small Business Minister Mary Ng praised “a business continuity agreement“. Canada was particularly worried about its exports of seafood, meats and auto parts in the event of a no-deal.

The government of the Belle Province, whose cheese producers and some of the farmers were up against Ceta in 2017, welcomed the agreement. Quebec Agriculture Minister André Lamontagne praised an agreement “by which Canada maintains its access to the United Kingdom market for its products, without granting that country any additional access to the Canadian market for cheese (…) This is very good news (…) for the entire biofood industry which maintains privileged access to the UK market.If the Canadian business community has generally welcomed the new free trade agreement, it remains reserved because the details of the agreement have not been released. This prompted the Leader of the Opposition and the Conservative Party, Erin O’Toole, to say: “The Liberal government has failed to consult with Canadian businesses and labor organizations, leaving Canadians in the dark about the status or content of this interim agreement.»

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