CANADA NEWS: Canada Can Place Money Offering Order In UK Products

Britain and Canada announced an interim trade agreement in November to pool more than C $ 29 billion ($ 22.7 billion) in bilateral trade. The agreement will accept the same terms as the EU-Canada free trade agreement, but Canadian lawmakers went on leave on Friday before the proposed agreement could be passed.

The Justin Trudeau government is expected to take legal action to stop blocking tariffs on UK products as it waits for the Canadian parliament to ratify a new trade agreement with the European Union, according to a senior government official.

Britain and Canada announced an interim trade agreement in November to pool more than C $ 29 billion ($ 22.7 billion) in bilateral trade. The agreement will accept the same terms as the EU-Canada free trade agreement, but Canadian lawmakers went on leave on Friday before the proposed agreement could be passed.

The most likely option for the Canadian government is a so-called remission order, said a Canadian official, who was not authorized to comment publicly on the plans and asked for anonymity. That will allow Canada to exempt from taxes on any goods or services used for free trade under the new agreement.

The UK government said on Thursday it was concerned that if its post-Brexit agreement with Canada could not be finalized before the end of the year, exports to both countries would be forced to trade under the rules set by the World Trade Organization. Apart from this new agreement, the UK and Canada will face trade prices from January 1, when the Brexit transition period ends.

Canadian Trade Minister Mary Ng introduced the bill in the legislature on Wednesday, leaving just two days for MPs to debate the matter.

“We have been working diligently to ensure that there is a smooth transition, and that Canadian businesses are experiencing disruption,” Youmy Han, a spokesman for Ng, said in an email.

The House of Commons resumes sitting on January 25th.

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