Trade ministers from the 12 nations negotiating a Trans-Pacific Partnership (TPP) are expected to hold another meeting soon to clinch a deal, after failing to do so in Hawaii last month.
Advertisement
The Conservative Leader made waves Thursday when he signalled that he’s determined to be part of a Trans-Pacific Partnership agreement even over the objections of the auto sector. whose members fear it will lead to a flood of foreign parts, produced by cheaper labour, killing their industry.
At least 25 TPP protesters were arrested after trying to force their way into a government building in Wellington, earlier this week. The negotiations have also been complicated by elections in Canada on October 19 and a change of prime minister in Australia.
US President Barack Obama on Wednesday expressed optimism that a vast Pacific trade deal can be reached before the end of the year, despite remaining disputes over key sectors. “When the final agreement is done, we will be looking to see that this balance was achieved”.
“He just told Japan and the United States, ‘Do whatever it is you wish, because I need a deal under any circumstances because of this federal election.’ He threw in the towel”.
Catherine Beard said it was important to remember the significance of the TPP opportunity.
“The assembly plants are what anchors everything else, primarily the supply chain in Canada”.
The Unifor president says that if the negotiations are successful, the auto parts industry in Ontario will be “devastated”.
Trade lawyer Lawrence Herman, of Herman and Associates, said Harper’s comments are a sign that “Canadian auto and parts manufacturers will certainly be getting less in the TPP than what they got in NAFTA”, the North American Free Trade Agreement.
The provision allows companies to make a claim through an independent arbitrator if they believe the government has acted in a rogue fashion.
Advertisement
On the other hand, the Harper government says the deal, which would create the world’s largest trade zone and encompass 40 per cent of its combined gross domestic product, is essential to Canada’s economic future.
