CETA has been met by both positive and negative reactions.

Proponents of the agreement agree that CETA will boost trade between Canada and the EU and will create jobs. They argue that free trade will lower prices while increasing product quality. It will also allow for easier access to each other’s markets and will increase opportunities and protections for investors.

Opponents believe that CETA is a bad idea because it will hurt the consumers. They argue that the agreement will weaken consumer rights and will only benefit big corporations who can operate in both Canada and the EU. European critics also worry that the agreement will mean lower environmental and food standards.

Check out the table below to see the arguments for and against CETA in Canada and the EU:

Canada EU
Benefit
  • Access to the largest market in the world
  • 23% increase in trade with the EU
  • More competition between firms
  • Lower prices for agricultural products
  • Less trade dependence on the United States
  • Increased investment
  • Elimination of duties will save EU companies millions of euros a year
  • EU companies have better access to the Canadian market
  • Geographical indicators (i.e. Champagne or Feta cheese) will be protected
Cost
  • Increased costs and competition for agricultural producers
  • Patent protection for pharmaceutical products, most of which are based outside of Canada, leading to increased prices
  • Protection of geographical indicators might hurt Canadian producers
  • Access to government procurement
  • Fear over large corporations suing national governments over lost investments
  • American firms with Canadian subsidiaries can operate in the EU market
  • Trigger “race to the bottom” in regulations and standards in order to compete

Read about the reaction to CETA:

Global News, “Trudeau says CETA will benefit all Canadians, experts not so sure”

The Victoria Star, “CETA Provides Little or No Benefit to Canadian Farmers”

The National Post, “What’s at stake with CETA”

BBC, “Belgium Walloons block key EU Ceta trade deal with Canada”

Still a little confused about CETA? Click HERE to see a comparison of CETA and NAFTA

Sources:
Office of the Parliamentary Budget Officer, “The Canada-EU Comprehensive Economic and Trade Agreement: A Prospective Analysis”
European Commission, “The Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada: The benefits of CETA”

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