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Brexit: Canada enters new transitional trade deal with Britain

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Canada and Britain struck a new trade deal on Saturday, allowing the long-standing partners to trumpet a commercial triumph in the face of the economic devastation wrought by the COVID-19 pandemic.

The interim deal beat the looming Dec. 31 Brexit deadline, replacing Canada’s current agreement with Britain under the European Union that covers trade between the two countries. Saturday’s interim pact, announced amid a virtual gathering of G20 leaders, is a placeholder that buys Canada and Britain another year to reach a more comprehensive agreement while also warding off a no-deal scenario that would have triggered new tariffs on a range of Canadian exports on Jan. 1.

But few details were released about the new interim agreement. Breaking with past practice during trade negotiations, there were no pre-announcement briefings for journalists and no text was released.

As Crystal Goomansigh explains, the deal was done in the nick of time.

For more info, please go to https://globalnews.ca/news/7476667/canada-britain-trade-deal/

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Category
U.S. & Canada
Tags
brexit, trade deal, canada
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