Published: Sun, November 22, 2020

Canada, Britain strike new trade deal, beating Brexit, incorporating expiring EU pact

Canada, Britain strike new trade deal, beating Brexit, incorporating expiring EU pact

British officials are expected to leave Brussels on Friday following this week's talks and, while talks will continue to take place remotely, the absence of face-to-face talks between Barnier and the UK's chief negotiator, David Frost, on the key outstanding political difference is likely to further delay any agreement.

Talks on an EU-UK trade deal face a new delay after a senior member of EU negotiator Michel Barnier's team tested positive for COVID-19 on Thursday (19 November).

Johnson's government says this type of relationship wouldn't hamper trade, but opponents warn that tariffs would increase prices for British consumers and border checks would lead to shortages of some goods.

UK Prime Minister Boris Johnson and his Canadian counterpart Justin Trudeau reached the "agreement in principle" during a video call on Saturday, the Department for International Trade (DIT) said.

"We urge trade negotiators on both sides to raise a dram of whisky (Canadian preferred, but Scotch or Irish is acceptable) to celebrate the current transitional agreement, but quickly re-engage to conclude a full bilateral free trade agreement", added Mr. Westcott.

Britain and Canada have struck a rollover trade deal to protect the lucrative flow of goods and services between the two countries after Brexit.

"The UK is bonded by history, culture and transatlantic trade with our friends and allies in Canada, and we want to continue to build partnerships around the world that support our shared values of freedom and democracy, and today marks another step towards membership of a group of like-minded nations- the Trans-Pacific Partnership".

The Canadian Parliament must approve legislation that would enable the deal to come into effect.

A new Canadian trade deal with the United Kingdom has been announced and there was a maple syrup joke made about our country. Johnson's critics point out that many are largely the same as the European Union deals.

Now that negotiations have concluded, the deal must be approved by both governments. Without the new accord, the United Kingdom and Canada would face tariffs on trade from January 1, when the Brexit transition period ends.

Speaking with 570 NEWS, Cambridge Chamber of Commerce President & CEO Greg Durocher said that any trade that Canada can conduct in these "difficult times" is essential, adding that the avoidance of those looming tariffs on Canadian exports is "simply good for business locally".

While Britain formally withdrew from the European Union in January, it continues to trade with other countries under the bloc's umbrella during a transition period that is scheduled to end December 31.

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