TPP partners agree on "core elements" of a trade deal, so what's next?
Former Quebec premier Jean Charest says the Trans Pacific Partnership negotiations, which have been anything but straightforward, haven't gone the way many had anticipated, and that Canada clearly wasn't ready to say yes on a number of issues.
And there's still plenty of room for countries — including Canada — to say no.
"All countries, when they sign the agreement in principle, all recognize that they have to have it approved by their own domestic government," Charest told The House. "There is no deal until the Canadian parliament of Canada says there's a deal."
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- TPP partners reach agreement on 'core elements' of Pacific trade deal, Canada says
From his experience with past trade deals, Charest said culture could be a deal breaker for Canada in TPP negotiations, but other issues — like rules of origin for car manufacturing and intellectual property rights — might have a bit more leeway.
"Culture was a deal breaker with the FTA in 1988 with the United States, and it's such a sensitive issue in Canada, especially in Quebec, more than anywhere else that it could become a deal breaker," Charest said.
Charest said he doesn't believe TPP will have much effect on NAFTA renegotiations.
Trump, Charest said, is the reason why TPP negotiations are taking place as they are. He's the one that walked away from trade deal.
"I wouldn't accept any criticism from the Americans on this," he said. "The key word for us is to diversify…we have to get out there and diversify. This is what TPP11 is about."