World Economy

CETA Deal Clears Crucial Hurdle

CETA Deal Clears Crucial HurdleCETA Deal Clears Crucial Hurdle

A contested EU-Canada free trade deal cleared a key hurdle on Tuesday as European Union lawmakers defied rising anti-globalization sentiment to back one of Europe’s most ambitious accords, World Bulletin reported. The Comprehensive Economic and Trade Agreement now goes to a showdown vote in a full session of the European Parliament on February 15, where the EU leadership hopes for a symbolic show of support for a global trade system in the face of rising protectionism championed by new US President Donald Trump. Boosters of CETA describe it as a new kind of deal that not only breaks the usual barriers but enshrines high standards for international trade. “With CETA, we are rejecting unfettered globalization and laying the foundations for a new era of rules-based trade,” social democrat MEP David Martin, a key backer of the deal, said. But CETA’s opponents slam it as a gift to multinationals who will use the deal to lower health and environmental standards and circumvent government regulation. 


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