Trudeau, EU Leaders Sign CETA Deal in Brussels

This article was last updated on April 16, 2022

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Canadian Prime Minister Justin Trudeau fervently defended the iconic Canada-EU trade deal, dubbed as CETA, claiming that it will reap immediate benefits to Canadians and Europeans and become a positive step towards globalization. However, even though the Prime Minister signed the agreement with European Union leaders on Sunday, the agreement could still be scrapped later any time until final ratification so the fate of its key dispute resolution system remains in limbo.

Mr. Trudeau visited Brussels over the weekend and attended the EU-Canada Summit after a delay of three days due to the opposition of the trade deal in Belgium. Even after having Belgium’s interim approval, final ratification of the deal will be required by the European Parliament and the legislatures in each EU member country. The ceremonial signing of CETA held on Sunday by Mr. Trudeau and EU leaders showed support for the deal which is more far-reaching than any other trade agreement.

After the European Parliament approves the deal in a few months, most of it will take effect on a provisional basis pending final ratification by EU members. The final ratification might take years so Mr. Trudeau is hoping that meanwhile CETA’s benefits will be obvious as tariff and non-tariff barriers fall and trade opens up in goods and services. He explained that “small businesses, consumers, will start to feel the benefits of this immediately even before all the 28 different parliaments proceed with their ratification steps.” Mr. Trudeau mentioned that “we are confident that demonstrating that trade is good for the middle class, and those working hard to join it throughout the region, will make sure that everyone gets that this is a good thing for economies but it’s also a good example to the world.”