This article was last updated on April 16, 2022
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The European Parliament has passed the landmark free-trade agreement with Canada, boosting Europe’s market-opening and silencing the populist rise across the continent and U.S. President Donald Trump’s protectionist believes. This is the first EU commercial deal with a fellow member of the Group of Seven leading industrialized nations. The deal will be enforced provisionally once the Canadian Senate gives its green light, which is anticipated within weeks. EU governments and Canada’s House of Commons have already given their approval.
The pact received 408 to 254 votes by the EU Parliament on Wednesday in Strasbourg, France, fending off a veto drive by far-left and far-right European parties that have echoed Trump’s criticism of globalization. In his remarks, the German head of the Christian Democrats in the 28-nation assembly, Manfred Weber, mentioned that “this is Europe’s answer to Trump’s trade policy,” adding that “instead of protectionism, we want partnership. Instead of fear and mistrust of each other, we want openness and even stronger ties with one of our closest allies.”
The EU-U.S. trade deal was put on hold after three years of negotiations because of the new Trump administration’s disregard of the deal. Director of the European Centre for International Political Economy in Brussels, Hosuk Lee-Makiyama, mentioned that “the approval by the EU Parliament of the Canada accord means the biggest political crisis in European trade policy has finally bottomed out,” adding that “Europe’s political capital has stopped bleeding away. It’s an important deliverable politically.”
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