Liberals reviewing TPP aid for auto, dairy sectors

The Liberal government says it’s reviewing more than $4.3 billion in aid offered by the Conservatives to Canada’s auto sector and dairy industry to compensate for the potential fall-out of a sweeping Pacific trade deal.

International Trade Minister Chrystia Freeland [has] said the financial relief — like the trade deal itself — is under review by the new government...

Trudeau told [APEC leaders] that Canada is pro-trade but since this deal was hammered out by the Conservatives, the new Liberal government would take some time to review the fine print.

...The proposed agreement would reduce or eliminate barriers in a wide range of sectors and could lead to more Canadian exports of pork, beef, canola, high-tech machinery and a variety of other products.

But it’s a deal with some potential downsides. Cars will be allowed without tariffs, as long as they have 45-per-cent content from the TPP region. And foreign suppliers would have limited access to the Canadian dairy market.

As a result, the Conservative cabinet endorsed a plan to spend $4.3 billion over the next 15 years to protect Canadian farmers from the impact of the agreement. During the election campaign, the Harper promised a further $1 billion to the auto sector.

Freeland said the Liberals are taking a second look at the financial assistance promised by Conservatives but endorsed the idea of helping sectors that could be hurt by the deal.

Obama said Pacific trade deal was a progressive deal that includes protections for workers, prohibitions against child labour and environmental protections...

Trudeau [has] met Prime Minister Shinzo Abe, of Japan, President Park Guen-Hye, of South Korea and had a meeting scheduled later in the day with Philippine President Benigno Aquino...

This has been excerpted from 18 November 2015 article by The Star.