Tag Archives: Canada-European Union Comprehensive Economic and Trade Agreement

Trade Deals: Maine Lobster industry fears lost sales from ramped-up Canadian exports

A new trade deal looming between Canada and the European Union is setting off alarm bells in the Maine lobster industry. The deal between Canada and the EU – the largest seafood consumer market in the world – would eliminate tariffs on Canadian lobster exports into Europe and give the Maritimes a competitive advantage over their American counterparts, who would be stuck selling lobsters with tariffs ranging from 8 percent for a live lobster to 20 percent on processed or cooked lobster. A weak Canadian dollar, which is now valued at about 75 percent of a U.S. dollar, will only make Canadian lobster that much more attractive to importers in the 28 member nations of the European Union, which is the second biggest importer of American lobsters, second only to Canada, according to trade data. In 2016, the EU imported $152 million worth of lobsters from the U.S., most of it from Maine. continue reading the story here 08:07

CETA breakthrough revives discussion over contentious fisheries renewal fund

Newfoundland and Labrador’s representative in the federal cabinet says talks are underway about how the province might be compensated for losses incurred once a Canada-European Union trade deal is implemented. Public Services and Procurement Minister Judy Foote was in St. John’s Monday to speak to a business audience, but fisheries issues garnered most of the attention when she met later with reporters. The federal government announced Monday that a legal review of the English text of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is now complete. Read the rest here 08:43