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The Impact of TPP Tariff Removal on Canadian Trade /

25 May 2016

The The Impact of TPP Tariff Removal on Canadian Trade 5 reality is Canadians have, to date, not been provided with sufficient infor- mation to come to an informed assessment of the trade effects of the Pacif- ic agreement, let alone its broader policy impacts.3 This paper seeks to fill some of the data gaps with respect to the potential benefits and risks to Canada of tariff removal within the TP [...] The paper concludes that despite the potential for the TPP to have a minimally positive effect on some Canadian exports, the agreement will very likely undermine Canada’s trade balance, and our ability to generate employment and expand activity in the manufacturing and high-tech sectors. [...] The TPP could prove to be a significant obstacle to the Trudeau government’s commitment to diversify the Canadian economy beyond its current reliance on extraction and exports of primary goods.4 Canada–TPP Trade by Numbers According to proponents of the TPP, tariff removal via the agreement will provide significant benefits to the Canadian economy, giving exporters preferential access to almost 40 [...] Between 2001 and 2014, the Canadian econ- omy lost 493,000 manufacturing jobs.36 The inevitable decline in commod- ity prices from the record highs of the 2000s has also had adverse effects on economic growth and public finances, as evident from the fiscal challen- ges the federal and several provincial governments are currently facing.37 The Impact of TPP Tariff Removal on Canadian Trade 19 Concl [...] The potential for the TPP to open up opportunities in certain sectors, such as pork and seed exports, must be assessed against the increased imports of dairy products from the U. S., New Zealand and Australia, the likely increase in tariff-free imports of advanced manufactured products from Japan, and of non-advanced manufactured goods from lower-cost jurisdictions such as Malaysia and Vietnam.
government politics economics economy mining export tariff canada balance of trade business employment free trade canadian economy trade deficits trans-pacific partnership tpp human activities deficit trade deficit job boom economy of canada extractives industries
ISBN
9781771252782
Pages
24
Published in
Ottawa, Ontario

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