New Zealand is escalating a long-running trade dispute with Canada over access for its dairy exporters to the Canadian market.
Stuart Bergman, chief economist of Export Development Canada , joins BNN Bloomberg and talks about the current patterns in the Canadian trade.
New Zealand has notified Canada that it has triggered compulsory negotiations under the free-trade agreement both countries are members of, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Trade Minister Todd McClay said Friday in Wellington. Under the CPTPP’s dispute settlement process, negotiations must commence within 15 days of notification, he said.
New Zealand initiated proceedings against Canada in 2022, saying the manner in which it was implementing dairy tariff rate quotas was inconsistent with its obligations under the pact. In September last year, a panel of arbitrators ruled in New Zealand’s favor, finding that Canada was blocking dairy access, McClay said, but Canada has failed to comply with that ruling.
Under the rules of the CPTPP and the World Trade Organization, New Zealand could impose tariffs on Canada “to an equal amount of the loss that we face,” McClay said.
Asia Pacific Rim Top Asia Pacific Rim Business Canada Markets Company News Government Industry North America Top News World Top World
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Zealand escalates dairy trade dispute with CanadaThe New Zealand government said on Friday it had escalated its long-running trade dispute with Canada over access for its dairy products into the North...
Read more »
New Zealand escalates dairy trade dispute with CanadaNew Zealand triggers mandatory negotiations in dairy dispute with Canada
Read more »
Canada looks to bring Ireland back to earth after famous upset win over New ZealandFresh from a comprehensive 46-24 victory over France to open the WXV women's rugby tournament, Canada faces an Irish side riding high after upsetting reigning World Cup champion New Zealand 29-27.
Read more »
Ireland brings momentum of rugby upset over New Zealand into game with CanadaTeams face off Saturday in the WXV tournament in Langley
Read more »
New species of ghost shark discovered by New Zealand scientistsScientists have discovered a new species of ghost shark that lives in deep ocean waters near Australia and New Zealand.
Read more »
Australian, New Zealand dollars scale new highs on China boostThe Australian and New Zealand dollars scaled multi-month peaks on Wednesday while sterling hit its highest in more than two years against a weaker dollar...
Read more »