Trade News

 

EU, Canada make breakthrough on trade deal

(BRUSSELS) - The European Union and Canada announced a major breakthrough towards completing a delayed free trade deal on Monday with hopes that the accord could be in effect next year.

Canadian and European leaders formally concluded the deal in 2014, but implementation has been delayed due to last-minute objections in Europe over provisions to create an investment protection system that would help protect companies from government intervention.

This system is key to a similar but far more ambitious agreement currently under negotiation between the EU and US and has drawn fierce criticism, especially in powerful Germany where hundreds of thousands of people rallied in October to oppose both accords.
Opponents say the measure favours big business, which could fight local rulings -- such as health and safety regulations -- that violate the trade deal and threaten their investments.
"Canada and the European Commission are very pleased to announce that the legal review of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) ... has been completed," EU Trade Commissioner Cecilia Malmstroem and Canada's Trade Minister Chrystia Freeland said in a statement.

"We are confident that CETA will be signed in 2016 and enter into force in 2017," they said.

Dutch win approval to renew beef exports to US

 he Netherlands has won US approval to renew exports of beef and veal to the United States, ending a ban imposed almost two decades ago because mad cow disease.

Thousands march in Brussels against cheap Chinese steel imports

Thousands of European steelmakers descended on the EU capital Brussels on Monday demanding that officials do more to stop the flood of cheap imports from China