REGINA — Canada must prepare for a future featuring a less friendly trade environment, says a new policy note authored by two leading policy analysts.
Al Mussell and Ted Bilyea, researchers at Agri-Food Economic Systems Research, said the recent action by China on Canadian canola illustrates their point.
They said Canada needs a “rapid pivot” to the reality of this new environment in which the agri-food industry is exposed.
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“Elements of geopolitics have moved beyond the limits envisioned under the rules-based trade system,” said Bilyea.
“It has resulted in industrial policies by global powers that leave Canada exposed under the rules-based trade system, and agri-food has become a favored target in trade retaliation.”
He said Canada is likely to face more of this.
Mussell said Canada still requires the rules-based system that protects smaller economies from geopolitical intimidation.
“We need a mixed strategy, with our own industrial policies, new trade alliances, but also support the system of trade rules we have now,” he said.
The full note is available here.
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