Canada Europe Trade Deal Approved by EU Parliament

The European Union and Canada secured clearance on Wednesday for their contentious free trade deal and the removal of import duties that supporters say will boost growth and jobs on both sides of the Atlantic.

The two parties can claim a success for their open markets policy after months of protest and uncertainty and in the face of U.S. President Donald Trump, who has withdrawn from the Trans-Pacific Partnership (TPP) and wants to rework the North American Free Trade Agreement.



European Parliament lawmakers backed the Comprehensive Economic and Trade Agreement (CETA) by 408-254, meaning large parts of the EU-Canada deal, notably tariff reduction, will finally enter into force some 8 years after negotiations began.

CETA has been the focus of demonstrations in Europe led by trade unions and protest groups that say it will lead to a race to the bottom in labour and environmental standards and allow multinational corporations to dictate public policy.

via Globe and Mail

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza