Concerns rise over TPP ratification, Brexit as protectionism rises

, Canada

Trade minister Chrystia Freeland is in Japan this week — along with Prime Minister Justin Trudeau — ahead of a summit of G7 industrialized nations, which begins on Thursday.

OTTAWA — There are a few nagging sore points in Canada’s trade relations with the rest of the world. 

Topping the triage list for Chrystia Freeland, our international trade minister who is in Tokyo this week, is a perceived growth in protectionism that could scuttle, or at least slow, the implementation of major trade deals including the 12-nation Trans-Pacific Partnership.

In addition to the long-negotiated, yet-to-be-ratified TPP — agreed to Oct. 5, 2015 and signed Feb. 4 of this year — the Brexit referendum raises the possibility that the U.K. may break away from the European Union, complicating our trade relations with the bloc. Should the U.K. vote to separate, Canada’s free-trade pact with the EU could face a major re-write.

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