Canada ready to give way on dairy for NAFTA deal - GlobeAndMail

Dhwani Mehta FXStreet

The Globe and Mail, a Canadian newspaper, reported a story on Wednesday, citing that Canada is ready to make significant concessions on dairy to secure the North Atlantic Free Trade Agreement (NAFTA) deal.

Key Points:

“Ottawa is ready to make concessions to the Trump administration on Canada's protected dairy market in a bid to save a key NAFTA dispute-settlement system, preserve safeguards for cultural industries and avert tougher pharmaceutical patent protections, The Globe and Mail has learned.

That compromise could end the year-old talks, but at a heavy cost. The federal government has committed more than $4-billion to the country's dairy farmers to buy the lobby's acquiescence on concessions in previous trade deals.

And the concession may be not enough. Canada tried to offer the United States more dairy market access in May as part of a North American free-trade deal, only to be rebuffed.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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