The Free trade agreement between the European Union and Canada enters into force today. Member of the European Parliament Marietje Schaake (ALDE/D66):
"The Trump White House has made a global trade agenda all the more urgent. Today's developments require European ambition to set modern and values-based trade rules. Europe has shown itself to be an forward-looking and reliable partner in trade by concluding an ambitious agreement with President Trudeau's progressive government. Japan, Australia and New Zealand are now eager to also conclude a trade agreement with Europe, which allows us to set global trade standards."
The Canadian economy is important for European companies. Schaake: "Unnecessary rules and bureaucratic hurdles have disappeared today. Removing tariffs will strengthen the position of European companies, large and small, in Canada. The agreement will lead to more exports, more growth and more jobs."
The majority of rules in the EU-Canada trade agreement enters into force today. Once all national parliaments have also ratified the agreement the remaining rules, including investment protection, will enter into force.