What Does Canada’s New Budget Mean for International Supply Chains and Trade Laws?

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Fasken Martineau DuMoulin LLP Apr 12, 2016

Expenditures related to international trade are reflected in the Government of Canada's Budget 2016, though not in an extensive manner. This bulletin highlights key budget expenditures or trade infrastructure projects that will affect international trade supply chains and the cost of trading across international borders.

International Trade Agreements: Ratification, Consultation and Emerging Markets

Budget 2016 confirms that the Government is committed to complete the final steps to the implementation of the Canada-European Union Comprehensive Economic and Trade Agreement ("CETA") including ratification to bring it into Canadian law, a process the government says will be "swift". Although the previous government had announced the intention to provide several billion dollars in compensation over a 15 year period to the supply managed agriculture industry for increased imports of certain products from the European Union due to CETA implementation (e.g., cheese), Budget 2016 is silent on the prior funding announcement or funding for any new initiatives or programs to this sector in the light of the pending ratification. The government also confirms that it will continue to consult Canadians on the merits of the ratification of the Trans-Pacific Partnership Agreement ("TPP"). Further, Budget 2016 explicitly indicates that the government is committed to deepening its trade relationships with large, emerging markets, including China and India.

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