Health Care

Canada's Trudeau says trade negotiations with China may take years

Canada's Trudeau says trade negotiations with China may take years”

Prime Minister Justin Trudeau said he has talked with Chinese leadership about Canadian citizens now imprisoned in China.

But the first clues that it might not happen emerged late in the day.

'Golden era'Canadian Prime Minister Justin Trudeau, left, and Chinese Premier Li Keqiang shake hands at the end of a press conference at the Great Hall of the People in Beijing Monday, Dec. 4, 2017.

Ties between China and Canada have always been close, and under Trudeau, the two heads of government have agreed to meet annually in addition to holding a range of dialogues on various issues.

"There is a coming together on the sense that this is going to be a big thing, not a small thing and the importance of making sure that we are able to follow through in the ways, high expectations that Canada has of the outcome for Canadians but also high expectations that China knows it will be setting with its first deal with a G-7 country", Trudeau said.

The allure of a free trade deal with the world's second-largest economy had proved irresistible.

"As long as we act in the principle of mutual respect, equality and mutual benefit, then we can see mutual understanding and further promote this bilateral relationship".

He also called on both sides to intensify exchanges and deepen relations on education, culture, tourism and sports, and strengthen cooperation on key areas such as climate change and coordination within multilateral frameworks. Neither looked at each other as they did.

In his statement, Li added both counties believe in trade liberalization and removing barriers investment.

Canada is seeking to diversify trade away from the US, and that effort intensified after the Trump administration threatened to tear up the North American Free Trade Agreement if it couldn't wring concessions from Canada and Mexico.

Earlier on Monday Trudeau said in a joint statement with Chinese Premier Li Keqiang that the two had discussed a free trade deal and are "exploring" options, but failed to launch formal free trade talks as some had expected. The Canadian leader told reporters afterward the two countries only want to proceed if they can meet the "high expectations" that launching talks would create.

China dominates the $90-billion trade relationship now; its exports to Canada were worth more than $64-billion in 2016 and the gap has grown every year since 2012.

And unlike Canada's other free trade partners, China is a one-party state with a spotty human rights record. During recent talks in Danang, Vietnam, Trudeau lobbied for strong provisions for environmental protection, labour rights, and gender issues, and the name of the initiative was altered to be the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. Negotiations on a revamped Nafta deal have been extended into next year.

Progress was nonetheless made Monday, with Trudeau saying Canada's beef and pork producers will have greater access to the Chinese market.

Agreement (NAFTA) and exited the Trans-Pacific Partnership (TPP), both of them trade pacts that Canada is part of.



Like this

loading...
loading...

Latest


06 December 2017
Konta confirms her choice of Joyce as new coach
Konta, who has not played since October because of a foot injury, climbed as high as fourth in the world in 2017. The partnership's first test will come in Brisbane in the first week of January.

06 December 2017
Embattled FBI Agent Peter Strzok Oversaw Interview of Michael Flynn
And early Sunday, Trump reiterated his denial that he asked Comey, then-FBI Director, to halt an investigation into Flynn. Thomas O'Connor, president of the FBI Agents Association, also bristled at Trump's characterization.

06 December 2017
Ranked: the top 10 United Kingdom companies to work for in 2018
No British retailers managed to secure a spot in the top 10 this year, with Screwfix dropping from ninth to number 12. Facebook has made the list for eight of the 10 years that Glassdoor has published the report.

06 December 2017
Anadarko Pete Corp (Call) (APC) Shareholder Glg Partners LP Cut Stake
Commonwealth Of Pennsylvania Pub School Empls Retrmt Sys has invested 0.04% in Anadarko Petroleum Corporation (NYSE:APC). At the close of regular trading, its last week's stock price volatility was 1.53% which for the month reaches 1.99%.

06 December 2017
Procter & Gamble's (NYSE:PG) "Buy" Rating Reaffirmed at Jefferies Group
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. The company reported $1.09 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.07 by $0.02.

06 December 2017
Deutsche Bank Says That Cardinal Health (NYSE:CAH) Has $64 Stock Target
The firm has started coverage on shares of CAH in a research note issued to clients and investors on Monday morning. B And T Mgmt Dba Alpha Mgmt holds 1.07% of its portfolio in General Electric Company (NYSE:GE) for 80,227 shares.

06 December 2017
Tim Hardaway Jr. will be out for at least 2 weeks
Indiana's next matchup is on Wednesday against the Chicago Bulls, and that marks the second game of their six-game homestand. Gasol was inspired by his team's effort in recent games . "We really had that mindset of the effort that has to be there".

06 December 2017
LaMelo Ball looking to play overseas
Alford indicated Tuesday that he expected the fate of the other two suspended players to be resolved in the near term. The players did thank him in a press conference, but LaVar Ball questioned Trump's role in it.

06 December 2017
UK Decided to Quit Customs Union Without Full Analysis: Davis
Davis said an "impact assessment" was a formal Whitehall term for a document and they did not exist when it came to Brexit. People seem to assume an impact assessment consists of a quantitative forecast.

06 December 2017
Serena Williams 'has entered' Australian Open
Williams won her 23rd Grand Slam at the 2017 Australian Open earlier this year when she defeated her sister Venus in the final.