Canada Europe Trade Deal Approved by EU Parliament

The European Union and Canada secured clearance on Wednesday for their contentious free trade deal and the removal of import duties that supporters say will boost growth and jobs on both sides of the Atlantic.

The two parties can claim a success for their open markets policy after months of protest and uncertainty and in the face of U.S. President Donald Trump, who has withdrawn from the Trans-Pacific Partnership (TPP) and wants to rework the North American Free Trade Agreement.

European Parliament lawmakers backed the Comprehensive Economic and Trade Agreement (CETA) by 408-254, meaning large parts of the EU-Canada deal, notably tariff reduction, will finally enter into force some 8 years after negotiations began.

CETA has been the focus of demonstrations in Europe led by trade unions and protest groups that say it will lead to a race to the bottom in labour and environmental standards and allow multinational corporations to dictate public policy.

via Globe and Mail

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