Local MP wants trade deficits examined

There is a lot of discussion from time to time about Canada’s trade deficit with the US.

But Huron-Bruce MP Ben Lobb said a lot of people would be surprised by some of Canada’s other trade deficits with some of its other partners.

Loeb suggested that the ministers of international trade and foreign affairs should review all trade deals negotiated over the past 20 years and put them under review.

“Do the math on it. When we got the European trade deal, we had a $600 million trade deficit, or lost opportunity, with European countries, we had beef and pork trade deficits with them,” Loeb said.

Canada still has problems with Durham wheat in Italy, adds Lobb

“In Italy we still have an ongoing problem with Durham wheat, and even in the UK, where most of our ancestors came from, it’s unbelievable that most Canadians would find that we’re actually in beef vs wheat There is a trade deficit with the UK,” Loeb added.

Canada’s trade minister is currently negotiating a trade deal with the U.K., and Loeb said the main goal of those talks should be addressing the trade deficit associated with Canadian beef and pork. He added that there is no reason for Canada to have a trade deficit with the U.K. in beef and pork.

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