Progressive Agreement for Trans-Pacific Partnership (CPTPP)

March 21, 2018 Hot Topics

Despite the objections of so many vehicle manufacturers, automotive parts makers and steel producers in Canada, International Trade Minister François-Philippe Champagne signed the Progressive Agreement for Trans-Pacific Partnership (“CPTPP”), March 8, 2018. The trade-offs Canada made in signing the CPTPP are not positive for our automotive or steel industries because it failed to win meaningful access for our auto exports past Asian non-tariff barrier walls. The resulting one way street for auto trade simply encourages companies to explore ways to import vehicles from lower cost jurisdictions rather than investing in manufacturing them in Canada. Fact Sheet.

The most immediate, highest level of impact for Canadian auto jobs and investment lies with the NAFTA. The government must make its economic priority the securing of a positive resolution to the NAFTA and delay moving forward with the ratification of the CPTPP until the outcomes of NAFTA are clear and certain