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SOURCES: Ontario to push for Korea trade deal safeguards with auto sector in mind
Auto sector will likely feel hit because of Korea trade deal
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There is the potential for a landslide of job losses in the province's auto sector with the new Korea Trade Deal.

Sources close to the situation tell Newstalk 1010 there is concern for the province's auto sector, despite positives stemming from the deal for Ontario's food producers, manufacturing and agriculture sectors.

The province is expected to urge the federal government to create a special task force to report publicly each month on Korean imports to monitor if the market is flooded with goods from the country. Ontario will also ask Ottawa to give quarterly reports on any kind of import restrictions that aren't in the form of a tax.

Ford, Chrysler and General Motors have all expressed concern over the deal.

Earlier in the day in the Ottawa-region, Premier Kathleen Wynne underlined the province is of two minds - optimistic but cautious on the auto sector.

Ontario Economic Development Minister Eric Hoskins had pushed Ottawa to put in place safeguards for the auto sector but didn't see much help. Hoskins asked for as long a phase out as possible to have minimal impact on the car manufacturing sector, but sources say the phase out is less than five years - shorter a time than what the US and Europe received in their trade agreements with Korea.

The feds also didn't negotiate a "snap-back" provision that would re-impose tariffs if Korea started to find ways to restrict imports.

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  1. john posted on 03/12/2014 12:32 PM
    the deal is done u cant change it now .
  2. john posted on 03/12/2014 12:34 PM
    like said before serves ont . right . keep voting for the same dickheads over again thats what u get . the whole political system is in need of a overhaul .
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2 0

There is the potential for a landslide of job losses in the province's auto sector with the new Korea Trade Deal.

Sources close to the situation tell Newstalk 1010 there is concern for the province's auto sector, despite positives stemming from the deal for Ontario's food producers, manufacturing and agriculture sectors.

The province is expected to urge the federal government to create a special task force to report publicly each month on Korean imports to monitor if the market is flooded with goods from the country. Ontario will also ask Ottawa to give quarterly reports on any kind of import restrictions that aren't in the form of a tax.

Ford, Chrysler and General Motors have all expressed concern over the deal.

Earlier in the day in the Ottawa-region, Premier Kathleen Wynne underlined the province is of two minds - optimistic but cautious on the auto sector.

Ontario Economic Development Minister Eric Hoskins had pushed Ottawa to put in place safeguards for the auto sector but didn't see much help. Hoskins asked for as long a phase out as possible to have minimal impact on the car manufacturing sector, but sources say the phase out is less than five years - shorter a time than what the US and Europe received in their trade agreements with Korea.

The feds also didn't negotiate a "snap-back" provision that would re-impose tariffs if Korea started to find ways to restrict imports.

Leave a comment:

showing all comments · Subscribe to comments
  1. john posted on 03/12/2014 12:32 PM
    the deal is done u cant change it now .
  2. john posted on 03/12/2014 12:34 PM
    like said before serves ont . right . keep voting for the same dickheads over again thats what u get . the whole political system is in need of a overhaul .
showing all comments

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