- François Dupuis, Vice-President and Chief Economist • Benoit P. Durocher, Senior Economist
Brexit: Is the trade agreement between Canada and the European Union under threat?
The United Kingdom’s exit from the European Union is raising many concerns. In Canada, the impact could be particularly felt in the current process to ratify the Comprehensive Economic and Trade Agreement (CETA). For one, the United Kingdom’s withdrawal process could shift the attention of European countries, pushing other files to the back burner, which could delay ratification of CETA. For another, some fear that CETA will become less attractive once the United Kingdom, Canada’s largest trade partner in Europe, is no longer a party to the agreement. Yet even if additional delays could arise, public decision makers seem determined to move forward with ratifying the agreement. In addition, CETA will retain several benefits for Canada and will facilitate better geographic diversification of its international trade.
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