As the clock approached midnight Sunday, word began to spread that Canada was ready to sign on the dotted line of the new trade agreement with the US and Mexico.
Toop was asked about Trump and supply management during a recent farm tour, and he said Americans need supply management as much as Canada needs to keep it. With the new deal, none of the countries that are part of the agrement will be able to import as many parts from overseas, and Robertson says this could make it hard for auto companies to keep consumer prices down.
Significant components of the existing North American Free Trade Agreement have stayed the same, but there were some new provisions to deal with digital technology and Intellectual property disputes.
The agreement is still awaiting ratification in all three countries, but for consumers in B.C. we'll soon see some changes to where we can buy USA wine, in USA dairy-product selection and duty-free limits. The USMCA includes new provisions to provide science-based trading standards, timely review of products produced through biotechnology and gene editing and new provisions on geographic indications. "This is the first time we are seeing measures like this in a trade agreement".
Others said even though Canada now has agreements with all the other major dairy producers, notably Australia, New Zealand, the US and European countries, that USMCA includes a clause ordering a review after six years - meaning there is no guarantee the government won't face fresh pressure in the near future to open up Canadian markets even further.
Stan Ryan, Dairgold president and CEO says, "Dairy trade with Canada was one of the most hard and contentious negotiating issues to solve in the entire USMCA deal".
The Liberal government will dole out what is likely to be billions of dollars in compensation for dairy farmers, following a new continental trade deal that critics say only further restricts industry's ability to compete in the global market. Canada's agreement to free up another 3.6 per cent of its milk market to Americans will do relatively little to lessen those troubles, they said. For example, a water company could sue Canada if they felt we were unfairly limiting water exports for environmental reasons (and this has indeed happened). While I'm optimistic that the USMCA agreement announced today will create continued opportunities, I remain concerned about the impact of Canada's reported concessions on Class 7 milk and access to Ontario's dairy market could have on our agriculture sector. For more information, contact CEO Laurie Fischer at 920-965-6070.
Prime Minister Justin Trudeau said, "It's a good day for Canadians", adding that he'll have more to say on Monday.
Graeff explains that increased access to the Canadian market comes through tariff rate quotas, phased in over a 19-year period.
"Mexico is our largest apple export market, it's our largest pear market".
Hall Findlay said the Class 7 concessions, combined with wider access to the dairy market for USA firms, will restrict the ability of Canadian firms to compete globally.
The deal does not, however, address the removal of the steel and aluminum tariffs U.S. President Donald Trump slapped on Canada last spring or the softwood lumber tariffs imposed in 2017. He says it's not yet clear what benefits will come out of this new agreement.
The leader of the National Democratic Party of Canada, Jagmeet Singh dubbed the deal as a worse deal than NAFTA and stated that the Canadian government should get a better deal.