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Globe and Mail Article Stresses Importance of Canada in TPP

Tuesday, July 28, 2015

(North American Meat Institute)

A recent Globe and Mail article by Barrie McKenna highlighted the economic importance of the Trans-Pacific Partnership (TPP) to Canadian businesses and exports, and emphasized the particular benefits that would result from a trade deal with Japan, the world's third largest market. McKenna noted that free trade with Japan would boost Canadian exports by an estimated $2.7 billion annually and generate economic gains of $3.8 billion per year. TPP is also essential to reduce duties and other import restrictions on many of Canada's key exports to Japan, including food and agriculture products, on which tariffs can be as high as 50 percent for beef and pork. If Canada is left out of TPP, McKenna posits, the other negotiating countries would benefit from lowered or eliminated tariff barriers, thereby undercutting Canada's ability to compete, costing the country billions in lost export revenue.

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