No new trade agreements can be concluded until the end of the transitional period on 31 December. Even after gaining new market access in Europe, Canadian livestock producers have long had problems with the EU, which refuses to remove non-tariff regulatory barriers, such as carcass bans, which are often used in meat processing in North America. These issues are not resolved in the text of this interim agreement. In less than two years, the UK government has concluded trade agreements with 55 countries representing 170 billion pounds of bilateral trade in the United Kingdom. Britain is preparing to complete its withdrawal from the European Union by the end of December and has negotiated dozens of bilateral agreements to maintain trade and mitigate the potential economic impact of Brexit. “Waiting until the eleventh hour to introduce the implementing laws is another example of Liberal mismanagement and incompetence,” Conservative trade critic Tracy Gray said in a statement to the media. International Trade Minister Mary Ng today introduced legislation to implement Canada`s transition agreement with the United Kingdom – but it is unlikely to become law before the government`s December 31 deadline. Canada and Britain have agreed on a rollover trade deal, countries announced on Saturday and promised to negotiate a broader deal after the expiration of Britain`s transition period after Brexit. However, there could be changes in EU-UK relations or changes in the UK`s internal processes and regulations that could affect the facilitation of trade between Canada and the UK. The Government of Canada will continue to observe how Canada`s trade with the United Kingdom could be affected in the short to medium term.
“This is a good time,” Canadian Prime Minister Justin Trudeau said in a video call with his British counterpart Boris Johnson and the respective trade ministers of both countries, shared on social media. In total, an estimated $42 million has been saved for British exports. Among the benefits contained in the agreement signed today is: the new agreement includes a specific subsidiary letter for cheese. Under CETA, British cheesemakers had duty-free access to the Canadian market they were to lose after Brexit. The rollover agreement between the United Kingdom and Canada allows for the continued provisions of the Canada-Eu Comprehensive Economic and Trade Agreement (CETA) that specifically affect trade between the two countries, CBC News reported.