Home Canada News Canada, Britain strike new trade ahead of Brexit deadline - National

Canada, Britain strike new trade ahead of Brexit deadline – National

Canada and Britain have struck a new trade deal, beating the Dec. 31 Brexit deadline that would have triggered new tariffs on a range of Canadian exports.

The interim deal will replace Canada’s current agreement with Britain under the European Union that currently covers trade between the two countries.

Read more:
Trudeau stresses free trade at Asia Pacific leaders summit

Britain’s decision to leave the EU after its Brexit referendum means that the Comprehensive Economic and Trade Agreement, or CETA, will no longer apply to the country at the end of the year.

The new deal preserves CETA’s key provision until a more comprehensive agreement can be reached later: the elimination of tariffs on 98 per cent of Canadian exports to Britain, which is Canada’s fifth largest trading partner with $29 billion in two-way merchandise trade in 2019.

Story continues below advertisement


Click to play video 'Brexit: UK says “real progress” made in EU talks following new trade deal with Japan'



Brexit: UK says “real progress” made in EU talks following new trade deal with Japan


Brexit: UK says “real progress” made in EU talks following new trade deal with Japan – Oct 23, 2020

Britain formally left the EU at the end of January, but the two parties have lived under an 11-month transition period, which for Canada has meant CETA continued to apply to its trade relations with Britain.

Canadian and British negotiators have been meeting since the summer to strike what has been called a provisional bilateral deal that incorporates many aspects of CETA and would avoid triggering the imposition of new British tariffs on Canadian exports such as seafood, beef and autos on Jan. 1.




© 2020 The Canadian Press




News Source

Canada, Britain strike new trade ahead of Brexit deadline - National
Pen Pusher Hackette
Pen Pusher Hackette is a content media organization that focuses on creating the most authentic content available on the internet. Apart from just writing the content for internet consumers, the organization also focuses on inventing the right marketing tool to help businesses target their potential consumers. From Entertainment to the knowledge-based information, we cover all aspects to connect with the billions of internet consumers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

The Disappearance of Kristin Smart

A college student goes missing and a podcaster turns up the heat to solve the case. "48 Hours" tracks down the prime suspect. CBS...

Can new info help solve the case of missing college student Kristin Smart?

Kristin Smart was a college freshman who vanished in 1996 after attending a party just off the campus of California Polytechnic State University, known...

Abu Dhabi to grant citizens $2bn in homes, land, mortgages

Total breakdown of the package for the emirate includes 3,099 plots of land, 2,000 housing loans and 601 homes News Source