Bucking Trump's anti-trade trend, European Union clears deal with Canada

The draft reforms of the EU's carbon market post-2020 that were adopted by the European Parliament on Wednesday could result in emissions from the shipping sector being included in the bloc's emissions trading system (ETS) for the first time.

Ahead of the 751-member legislative body's vote in Strasbourg, France, the trade deal first went through multiple parliamentary committees, earning the backing of its worldwide trade committee (INTA) and its environment, public health, and food safety committee (ENVI).

The deal will drop barriers between the EU's economy of half a billion people and Canada's 35 million.

He added: "You are a vital player in addressing the challenges that we collectively face as an worldwide community".

"Or - this'll sound wild - why not a global minimum wage built into trade agreements, so if you want to take advantage of market access, you have to respect the right of collective bargaining, for example?" he says.

When CETA comes into force, the European Union will remove duties on 98 percent of its tariff lines, and after full implementation, on 99 percent of tariff lines.

CETA spans 30 chapters, covering goods and services trade, public procurement, state-to-state dispute settlement, transparency, environmental and labour issues, state-owned enterprises, e-commerce, investment, and sustainable development, among various other topics.

Since the Canada-US Free Trade Agreement came into force in 1989, two-way trade in goods and services between the two countries has more than tripled. This could take a couple of months.

The Canadian Press wire service said the European Union is Canada's second largest trading partner after the U.S. Until this happens the agreement will continue to be applied.

Anyway, the agreement will generate benefits from the very start in terms of economic growth.

Romania exported goods worth Euro 75 million to Canada and imported goods worth Euro 60 million, in 2015, according to Eurostat data. At the end of transitional periods for duty elimination that figure will rise to more than €500 million a year.

The belligerent mood was also palpable at the EU's legislature in Strasbourg, France.

"We know that every €1 billion in exports supports 14,000 European jobs".

International Trade Minister Francois-Philippe Champagne was already in Strasbourg ahead of the vote.

The suggested the EU executive create a European agency for robotics and artificial intelligence to supply public authorities with technical, ethical and regulatory expertise.

The negotiations on CETA continued during several years and have been surrounded by misinformation, confusion and even blatant lies, according to the Commission source who was involved in the negotiations.

SunPower Corporation (NASDAQ:SPWR) Approaching Earnings Date: What matter for investors?
Trump Says Russia Took Crimea