The Trans-Pacific Partnership is a fundamentally flawed trade deal that puts much at risk in Canada, with little to offer Canada's economy in return.
A majority now back the 11-country trade deal.
This is the first such opportunity since the deal came into effect in 1994, and we are not likely to get another for many years.
Looks like the deal could go ahead without the U.S.
For as much as a government wishes to enact progressive policies, trade agreements -- such as the Canada-EU Economic and Trade Agreement (CETA) and the Trans-Pacific Partnership (TPP) -- curtail their abilities to redistribute income and legislate for the common interest. These deals are vectors of inequality.
Pfizer has been the subject of controversies relating to its pricing and tax practices.
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The pressures on Canadian interests abroad will be significant, so long as the United States remains the guarantor of Canadian national security and the major partner in economic prosperity. So what does the U.S. election mean for Canada in the world?
It was one of the world's most ambitious trade deals.
Photo:Maude Barlow, Chair of the Council of Canadians at a massive rally in Stuttgart, Germany against CETA and TTIP. (Council
Incorrectly suggesting that the TPP will mean greater numbers of migrant workers is a form of dog-whistle politics that further entrenches the dangerous anti-immigrant sentiment that exists in Canada. We should instead oppose the TPP because it will impoverish and displace some of the poorest in the world.
During the last federal election, the Liberals promised more free votes in the House so MPs could more effectively represent their constituents. The TPP is an issue that demands our representation. It will affect every Canadian, but will have specific and diverse impacts on different parts of the country.
The bottom line is that Canada now appears as the only 'adult' in the room when it comes to global trade negotiations. Should the U.S. continue to fail and flail in its attempts to bring the TPP to a vote, that comparative distinction will carry through to Asian countries looking to pick up the pieces of a failed TPP and gain access to the NAFTA market.
The TPP is all but dead. And following the stunning October 14 vote in Belgium, it seems CETA may very well be on its deathbed. This is a huge blow against the big business agenda of the Justin Trudeau Liberals. Sadly, Canadian unions and the New Democratic Party can take little credit for it.
Trade is not something we are afraid of. It is not something we oppose. But we are afraid of the sorts of rules contained within trade agreements that establish more rights for corporations. Agreements like CETA and the TPP are pushing the world in the wrong direction.
Many of the promises -- increased productivity, more jobs, more money in our pockets -- have simply not come true. This is ironic because, as free trade agreements become toxic all over the world, Canada, a country bound by a long-standing trade deal, has not had a comprehensive debate on the proposed CETA (trans-Atlantic) or TPP (trans-Pacific) agreements.
Our current first-past-the-post (FPTP) electoral system has regularly awarded 100 per cent power to one of Canada's two established "centrist" political parties -- the Liberal Party or the Conservative Party(formerly, Progressive Conservative Party) -- even when their share of the popular vote has been well below 50 per cent of total votes cast, nationwide.
We hear often that Canada is a trading nation and that, without trade agreements such as the Trans Pacific Partnership (TPP) and the Comprehensive Economic and Trade Agreement (CETA) with Europe, we will lose access to 800 million consumers and 40 per cent of the world economy.
Trade between Japan and Canada has stagnated for over a decade. Exports from Canada to Japan grew only four per cent from 2006 to 2015, while Canada's imports from Japan have declined. There is good news -- foreign investment from both sides show an upwards trend -- but business will need help to capitalize on this opportunity.