Free trade pact: Should Canada and the EU enter into one?
- October 27, 2010 1:55 PM |
- By POV
By CBC News
A free trade deal between Canada and the European Union would cost tens of thousands of workers their jobs, according to a new study.
The study -- by CAW chief economist Jim Stanford -- was released Wednesday by the Canadian Centre for Policy Alternatives.
Stanford ran three simulations to see what a Canada-EU free trade deal would mean to the Canadian economy, and in every case Canada's bilateral trade deficit with the EU would worsen.
In the best-case scenario -- one in which tariffs are mutually eliminated -- Stanford foresees the loss of 28,000 jobs.
In the worst-case simulation -- one in which tariff elimination takes place along with a further appreciation of the Canadian dollar versus the euro -- the job losses could top 150,000.
The fifth round of Canada-EU free trade talks took place in Ottawa last week. Federal officials say a pact could be ready to sign next year.
Business leaders have welcomed efforts to reach a trade deal with the EU. But many labour groups, farmers groups and nationalists are opposed.
Read more.
Do you think Canada should enter into a free trade pact with the European Union? Would the potential benefits outweigh the potential negatives? Let us know in the comments below.
(This survey is not scientific. It is based on readers' responses.)
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