It was no surprise that US President Donald Trump decided to withdraw his country from the Trans-Pacific Partnership (TPP).
However, Canadian Federation of Agriculture (CFA) President Ron Bonnett said he was surprised with how quickly it happened.
He notes there is a possibility that the TPP could still go ahead without the US, if the remaining countries wanted to come together and revise the deal.
"I'm not sure though if the other members would want to do that because I think they were hoping to get access to the US market. It's not as critical for Canada because we already do have access to the US market," commented Bonnett.
Bonnett notes if the TPP falls through, Canada would be wise to form bilateral trade deals with countries such as Japan and Vietnam
He adds countries like China and India, who were not part of the TPP, would also be valuable trading partners.
The big concern for Canadian agriculture, according to Bonnett, is what President Trump plans to do with the North American Free Trade Agreement (NAFTA).
Source : Portageonline