US/China Trade Negotiations Continue

Jan 16, 2020

It's a big week for trade in the US, and Canada will be impacted on both fronts.

On Wednesday, the US and China signed the first phase of their new trade deal. The US still plans to keep the tariff war going for now, while phase 2 of the trade deal is worked out.

On the 2nd front, The US Senate is expected to vote today on the new NAFTA.

The expected vote promises sweeping bipartisan support for the legislation that will replace the original NAFTA. Most farm groups in Canada support the deal, but Canada's supply-managed dairy industry isn't as excited.

They're being forced to give up more market share to the US. The Trudeau government has been promising them billions in compensation for the loss of that market share.

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Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.