White House: Trade deal with Canada is ‘dead’
The U.S. and Canada have concluded a deal that would ease barriers on goods and services between the two countries, with the U.N. chief calling it “dead” in a letter to President Donald Trump.
The agreement is part of the Trans-Pacific Partnership, a trade pact that Trump and his administration have sought to dismantle after winning the presidency in November.
The agreement would bring tariffs on Canadian softwood lumber, autos and agricultural products, along with a number of other changes, such as opening up the U of S. to more Chinese imports.
It’s not clear how the deal would work in practice.
In Canada, for instance, tariffs would be removed for goods like food and cosmetics from Canada.
But the U.-S.
would still be able to impose duties on other imports, such a dairy product that is used in U.K. cheese production.
In a statement, White House press secretary Raj Shah said the deal “is dead.”
He called the Canadian move a “dismal failure” that would “be difficult to reverse.”
The Canadian government has been critical of the agreement, which would allow the U-S.
to increase trade with other countries by nearly $1 trillion over a decade.
Canada’s trade surplus with the United States totaled $18 billion in 2016.
Trump has called the agreement “a disaster” for the United State.
He has repeatedly said the U,S.
is losing billions of dollars and Canada is losing hundreds of millions.
The deal was negotiated under a bipartisan agreement that was signed by former Presidents George W. Bush and Barack Obama.
It required approval from both houses of Congress.