Anti-trade rhetoric is key to U.S. electoral success, study shows, but rarely translates to action

/
Anti-trade rhetoric is key to U.S. electoral success, study shows, but rarely translates to action

Bashing trade has always been assumed to be good politics, never more so than during this U.S. election cycle. However researchers at Georgetown University have done the math, showing exactly how anti-trade rhetoric translates into victory at the voting booth.

Both Hillary Clinton and Donald Trump have said they would significantly alter – or even rip up – key agreements such as the North American Free Trade Agreement and the Trans-Pacific Partnership.

That kind of rhetoric resonates with a segment of voters – low-skilled, highly paid manufacturing workers, whose jobs are at the highest risk of being outsourced to lower cost jurisdictions overseas – that have an extraordinary amount of influence when it comes to Electoral College votes.

Read More

Lessons for Canada from New Zealand’s dairy industry

/
Lessons for Canada from New Zealand’s dairy industry

Tiny New Zealand, with a population just one-eighth that of Canada, is on a quest to quench the world’s thirst for milk. Today milk is the country’s biggest export, and 95 per cent of what Kiwi farmers produce goes abroad, mostly to China.

Compare that to Canada, where dairy farmers keep fighting to protect their supply management system, which means higher milk prices for consumers and puts a strain on Canada’s trading relationships. Only five per cent of what Canada produces is exported.

While Canada is wringing its hands about what to do about the dairy sector, the question to ask is: Will ending supply management spell doom for Canadian dairy farmers?

Read More

The financial consequences of a European Union without Britain

/
The financial consequences of a European Union without Britain

Banking, insurance and pension firms based in the Greater Toronto Area and elsewhere in Canada would be left scrambling for solid ground if Britain decides to exit the European Union next month.  

If the vote were held today, 40 per cent of Britons would vote to leave the EU, according to the Financial Times poll tracker.

Read More

The consequences of Justin Trudeau’s Chinese trade decision

/
The consequences of Justin Trudeau’s Chinese trade decision

Prime Minister Justin Trudeau faces a tough decision on Canada’s relationship with China: Will Ottawa agree to Beijing’s demand that Canada stop treating China as a “non-market” economy under the World Trade Organization?

The stakes are high. Refusing the Chinese would likely end the chances of a far-reaching trade deal with Canada’s second-biggest trading partner. A recent report puts the value of a Chinese trade deal at $7.8 billion in new economic activity for Canada. But experts say China will come to the table only if Canada first grants it market economy status.

Read More

App aimed at easing border congestion takes top prize at Canada-U.S. hackathon

/
App aimed at easing border congestion takes top prize at Canada-U.S. hackathon

A two-member team of young professionals from Chicago has a new idea for unclogging the Canada-U.S. border: an app for importers and exporters based on the popular TurboTax program that many taxpayers use to fill out their annual tax forms.

The Chicago team, called TradeSherpa and made up of Steve Martinez and Price Shoemaker, emerged this past weekend as the winner of a two-day “hackathon” sponsored by the U.S. Department of Homeland Security and Global Affairs Canada, at which 23 teams were challenged to produce the most useful app for cross-border trade.

Read More

How the TPP could cripple Big Syrup

/
How the TPP could cripple Big Syrup

WHEN DAVID AND LUCY MARVIN started Butternut Mountain Farm in the mid-1970s, they wanted to try the road less taken. So David, a trained forester, turned to maple sugaring. “It was pretty unusual at the time,” says his daughter, Emma. 

The season in Johnson, Vt., for harvesting sap only lasts a brief six weeks every spring. But that narrow margin for error belies a long-term nature of the investment: Red maple and sugar maple trees have to be about 40 years old before their sap can be harvested for the first time. They can then continue to be tapped for the rest of their lives, sometimes a couple of centuries. 

Butternut Mountain is now one of the largest producers and distributors of syrup in the country, with 17,000 taps spread over 1,200 acres, a 75,000-square-foot processing and distribution facility, and 90 full-time employees. 

Today, business for the Marvins and their fellow American syrup producers is poised to boom, thanks not just to the technological revolution in the age-old art of sugaring but because of a free trade deal on the other side of the world.

Read More