Paradigm

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The Conference Board of Canada
There are
concerns about
the protection
of Canadian
intellectual property
under TPP.
Redefining Canadian Trade Policy
Enhancing the Traditional Framework—Trade/
International Policies
Given the evolution in global value chains, the rise in services trade,
foreign affiliates, and the acceleration of global data flows, a focus
strictly on export policies and programming makes little sense. A more
comprehensive trade strategy that aligns with the reality of global
business today and tomorrow is critical. The new federal government is
reviewing many aspects of economic policy, including trade. So where is
Canada’s trade policy going, and where should it go?
The CETA free trade deal with the European Union was more or less
irreversible until Brexit. Canada should now work hard to finalize and
implement CETA. Although EU countries will be distracted by Brexit
and its implications, the EU will have an even stronger incentive to
boost growth and complete trade deals now. A separate Canada–U.K.
deal might be negotiated later. Both parties will benefit from the deal,
which would provide a modest boost to underlying growth potential in
Europe and Canada. The Conference Board of Canada had undertaken
extensive research on what CETA means for Canadian businesses,
which shows that the capacity of individual firms for innovation and
adaptation will determine which ones will be able to take advantage of
free trade with Europe. 30
The other big deal is the Trans-Pacific Partnership (TPP), which is a
modern trade deal with wide coverage. TPP is not a perfect deal, as
few things are. Some of its specific elements are problematic, notably
Canada and Mexico having a shorter time period than the U.S. for
eliminating auto sector tariffs on Japanese imports.
There are also concerns about the protection of Canadian intellectual
property under TPP. Some are concerned that the IP provisions negotiated
in the TPP will have a negative impact on Canadian businesses and
the economy. The TPP does not create IP policy but rather entrenches
30 Goldfarb and Sui, For Innovators Only; Chu and Goldfarb, Stronger Ties.
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