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Canada seeks delay on ratifying Trans-Pacific Partnership trade deal
CANADA appears to be delaying ratification of the Asia-Pacific trade treaty, now that the leftist Liberal party has won power from the pro-trade Conservative government in the recent election.
Canada is one of 12 nations that initialled the Trans-Pacific Partnership (TPP) in early October, agreeing in principle to create a trade zone covering 40 per cent of the world's economy.
TPP members are now talking about signing the deal in February, a crucial step which paves the way for ratification, Reuters reports.
The Liberals, more beholden to protectionist unions, fear job losses once TPP comes into effect, and have launched widespread consultations on the deal.
One source directly familiar with government thinking said; ¨As it stands, Canada will most likely sign the treaty but won't move to ratify it until the situation in Congress becomes clearer."
Canada is one of 12 nations that initialled the Trans-Pacific Partnership (TPP) in early October, agreeing in principle to create a trade zone covering 40 per cent of the world's economy.
TPP members are now talking about signing the deal in February, a crucial step which paves the way for ratification, Reuters reports.
The Liberals, more beholden to protectionist unions, fear job losses once TPP comes into effect, and have launched widespread consultations on the deal.
One source directly familiar with government thinking said; ¨As it stands, Canada will most likely sign the treaty but won't move to ratify it until the situation in Congress becomes clearer."
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