Thursday, June 14, 2018

Italy threatens to kill the EU-Canada trade deal

Italy is threatening to block the European Union free-trade agreement with Canada because some leading politicians want additional protection for the food industry.

Italy is forming a new political coalition following recent elections.

The politicians say they fear some of their specialty-food markets will be eroded by competition from Canadians.

They also mentioned a likely increase of imports of Canadian pork and beef and that Canadian wheat can be grown on fields sprayed with glyphosate (Roundup).

The deal moved into provisional applications last September when many tariffs were lowered.

Those who support ratification say increased trade would improve the European Union economy by 20 per cent  which would be worth 12 billion euros ($14 billion) a year; Canada’s economy would increase by $12 billion.