The Comprehensive and Progressive Trans-Pacific Partnership, the 11-country Asia-Pacific trade agreement revived after being abandoned by the Americans, ...[took effect on December 30].
Agrifood exporters and consumers shopping for Japanese cars could benefit right away. But Canada's greater goals for this agreement are strategic.
"Right now, things are a bit sensitive with the United States," said Brian Innes, the president of the Canadian Agri-Food Trade Alliance, the umbrella group representing most Canadian food producers — grain and livestock farmers in particular — who rely on sales to international markets.
"Secure access, stable access to the Asia-Pacific markets is really important to farmers right now."
The Trump administration's decision to withdraw from the Trans-Pacific Partnership made the reworked CPTPP a far better deal for Canada.
Originally, Canada needed to be in the TPP to avoid falling behind its closest competitors. When the remaining economies — including Japan, a large, developed market where Canada couldn't land a bilateral trade deal — stuck together and implemented the agreement, Canadians got a head start over the Americans...
This is excerpted from 30 December 2018 edition of the CBC News.