(Josh Wingrove – Bloomberg)
The Canada-EU trade pact is kicking in after a series of delays, reducing an estimated 9,000 tariffs as leaders hail the deal as a boost for globalization at a time of political unrest.
The majority of the accord, known as CETA, took effect Thursday, though key elements – such as controversial investor-state dispute provisions – are still subject to nation-by-nation ratification that could take years. The Canadian government nonetheless is holding the deal up as an example.
“This is the most progressive trade deal in the world, this is the gold standard,” Canadian Trade Minister Francois-Philippe Champagne said in a telephone interview Wednesday. “Trade is a march to the top, not a race to the bottom.” Click here to read more.