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Canada, Mercosur aiming to sign free trade deal this year: Brazilian official
The proposed deal could cut tariffs by up to 35% on Canadian exports and open a market of 282 million people, officials said.
- On Monday, Paula Barboza, director for extra-regional negotiations at Brazil's ministry of foreign affairs, told The Canadian Press that Canada and Mercosur are on track to sign a free-trade agreement by year-end.
- Carleton University professor Fen Osler Hampson said Canada is pursuing the deal as part of Prime Minister Mark Carney's efforts to diversify trade, while Barboza noted Mercosur needs to move beyond dominant trading partner China.
- A final agreement could reduce tariffs by up to 35 per cent on Canadian automotives, machinery, chemicals and forestry exports; Mercosur represents a US$3.0 trillion GDP and 282 million people, with Canada's 2024 merchandise trade reaching C$15.8 billion.
- Keith Currie, president of the Canadian Federation of Agriculture, expressed "serious concerns" about increased competition for domestic beef and poultry, while Canada's federal government has not responded to requests for comment.
- Negotiations took place in Brazil in February with another round planned this month, followed by talks in Canada in May; discussions could continue into June and July if needed, as Mercosur's recent landmark deal with the European Union signals broader trade expansion.
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The Toronto Star+23 Reposted by 23 other sources
Canada, Mercosur aiming to sign free trade deal this year: Brazilian official
OTTAWA - Eight years after Canada launched free trade negotiations with the Mercosur bloc of nations, a Brazilian official says an agreement is on track to be signed by the
·Toronto, Canada
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Total News Sources26
Leaning Left16Leaning Right1Center5Last UpdatedBias Distribution73% Left
Bias Distribution
- 73% of the sources lean Left
73% Left
L 73%
C 23%
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