On the 15th of February, the European Union passed the EU – Canada free trade deal. The CETA deal as it is called (Comprehensive Economic and Trade Agreement), will reduce by 98 percent the tariffs on exported goods meaning that this is the biggest trade deal that the European Union made so far.
The President of the EU commission, Jean-Claude Juncker, called it “an important milestone” and stated that “EU companies and citizens will start to reap the benefits the agreement offers as soon as possible”.
Without a dought, this deal consists a great success for Europe especially after Donald Trump introduced new tariffs. The EU will have many benefits and a new era between the relationship of EU and Canada is about to start. The CETA deal will increase Canadian an EU trade by 20 percent and will advance European Union’s economy by 12 billion euros a year.
Many opponents claimed that this treaty will lead to a privatisation of the public sector and that in the end will not benefit the EU but it will harm it. Considering all the above, a treaty like this will only benefit Europe and the results will be visible shortly.