Thread: Final Push for a Canada-EU CETA and the Coming NAFTA-EU Free Trade Zone

Pressure is mounting on Canada to finish up a long-delayed trade deal with the EU. Despite outstanding issues that still must be settled, there is a final push to try and complete an agreement this summer. If both sides are able to secure a deal, it would lay the groundwork for the proposed U.S.-EU trade pact. There is the possibility that the U.S.-EU transatlantic trade talks could also include the other NAFTA partners and maybe even other countries. Mexico has already shown interest in joining and if Canada can’t put the final touches on their own agreement with the EU, they might also be part of the negotiations. This would facilitate plans for a coming NAFTA-EU free trade zone and the formation of a transatlantic economic union.

During a speech given in November of last year, EU Trade Commissioner Karel De Gucht called on Mexico and the EU to modernize their existing trade agreement. Glyn Moody of techdirt recently reported that Mexico is now looking to join the U.S.-EU transatlantic deal. This would be one way for the EU and Mexico to upgrade trade relations. Moody emphasized that the U.S. strategy is to, “make TPP the defining international agreement for the entire Pacific region. TAFTA obviously aims to do the same for the Atlantic. As well as establishing the U.S. as the key link between the giant TPP and TAFTA blocs, this double-headed approach would also isolate the main emerging economies -- Brazil, Russia, India and above all China.” Just like the U.S. dominated Trans-Pacific Partnership (TPP), Mexico and Canada could also be a part of the Transatlantic Trade and Investment Partnership talks. This would make it a true NAFTA-EU trade bloc-level negotiations. There might be an opportunity for other countries to join as Turkey is also pushing to be included in the trade deal.

In a recent article, Maude Barlow of the Council of Canadians described how CETA negotiations have laid the groundwork for a U.S.-EU free trade zone. She insisted that it would be a mistake for all three NAFTA countries to be a part of a transatlantic agreement. Barlow warned about some of the same dangers found in CETA that the U.S. could face in their own trade deal with the EU. She stressed how opening up local procurement to the EU should be of great concern to U.S. states and municipal governments. In Canada, a number of municipalities have passed motions demanding that they be excluded from the procurement rules in CETA which would restrict local hiring and purchasing initiatives. Barlow also cautioned that an investor protection chapter like the one in CETA would allow European multinationals to sue for any potential profit losses related to U.S. government policies and regulations. This would be worse than NAFTA’s Chapter 11 and as a result, the U.S. would lose more sovereign rights. The Australian government has already stopped the practice of including investor-state dispute resolution procedures in trade agreements and now it’s time for other countries follow suit.

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New World Order dead ahead!!!!