Canada and 11 other countries have reached a massive free trade agreement which has yet to be ratified. The details of the Trans-Pacific Partnership have yet to be unveiled.
The proposed agreement could benefit producers and exporters of Canadian pork, beef, canola, high-tech machinery and several other products who will have new access to Asian and Pacific markets.
Compensation promised for farmers
It would however allow for more dairy, chicken and egg imports into Canada. That sector is currently controlled in Canada and the government is promising farmers will be compensated for losses to the tune of $4.3-billion over 15 years.
Auto-parts manufacturers could also be hurt if domestic-content rules for vehicles are slashed from 60 per cent to 40 per cent.
Opposition leaders are wary
Opposition parties have complained that the trade deal was negotiated in secret. There is currently an election campaign to choose a new Canadian government. The leader of the New Democratic Party has said he would not be bound by the TPP and the leader of the Liberal Party wants to examine the deal before deciding what to do.
The prime minister has already held a news conference to tout the benefits of the TPP.
There will certainly be much analysis of the proposed trade agreement and pressure from interest groups that would be affected by it.
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