U.S. Trade Representative (USTR) Jamieson Greer appeared on CNBC yesterday to discuss the U.S.-Canada trade agreement and what caused the last-minute breakdown. Canada’s team was operating politically.
Greer pointed out that the areas of disagreement were minute. The U.S. tariffs applied to less than 5% of overall Canadian exports and less than 0.06% of U.S. imports. The U.S. made several offers to present Canada with the best trade terms in the world; however, Canada wanted more. Canada wanted to retain all its market barriers, quotas, tariffs, and restrictions on U.S. goods and services, but remove all tariffs on them.
In other words, they never planned to negotiate.
This is a good, solid interview. It’s honest. The terms offered were direct and consistent with benefit to both America and Canada. On the language issue, Greer laughed at the absurd lie that the US wants to change Quebec’s language.
Canada is demanding that 5% of all tech income be given to Canadian tech companies it competes against. That is not a serious demand anyone would cave to.
