Canada has officially become a founding member of the Trans-Pacific Partnership, a twelve country trading block that will enjoy a significant drop in tariffs across the board while fundamentally changing the nature of the auto industry. Canadian officials outlined a wide range of new export opportunities for Canadian industries. For example, Canadian beef exports to Japan is currently subject to tariffs of over thirty-eight per cent, will be lowered to nine per cent over the next fifteen years. The TPP is invoking memories of NAFTA for many.
For those that are complaining, are they guilty of protectionist thinking? With forty percent of the world’s economy signing on, would Canada have been foolish not to?