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Canada and South Korea sign free trade deal

Ontario is worried about a possible negative impact on the auto manufacturing industry

PM Harper with Korean President Park Geun-hye
(The Associated Press)

Canada has concluded a free trade agreement with South Korea, ending almost a decade of protracted and often difficult negotiations.
    
The deal is the second for Canada in less than a year, coming on the heels of last October's agreement in principle with the European Union. But officials say the Korean agreement is different in that it is fully fleshed out with no outstanding issues and could come into effect within the year.
    
Prime Minister Stephen Harper and Korean President Park Geun-hye formally made the announcement at a ceremony in Seoul on Tuesday afternoon local time.
    
Ottawa says once fully implemented, the pact is projected to boost Canadian exports by 32 per cent, or $1.7 billion annually.
    
The deal eliminates virtually all tariffs between the two countries, with a majority of duties being chopped upon implementation.

Ontario and some in the auto sector have expressed concerns they could be hurt by the removal of a 6.1 per cent duty on Korean vehicles Hyundai and Kia.
    
In return, Canada has secured freer access for exports of pork, beef, forest products, fish and seafood, and other goods.
    
Analysts say it was important for Canada to reach an agreement because exporters were losing market share as a result of South Korea having already signed deals with the U.S., the European Union and Australia.

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  1. Frankie posted on 03/11/2014 03:39 AM
    The Liberals are deflecting from themselves again. They're worried about this deal? What about all the damage they've caused to industry in Ontario the last 10 years, damage that will last the next 25 years?
  2. Only Common Sense posted on 03/11/2014 05:31 AM
    The Harper nitwits strike again ... another gift to the Alberta oil industry with another disaster in the nation's auto industry.
    How can this possibly have more positives than negatives?
    1. Jim posted on 03/11/2014 09:46 AM
      @Only Common Sense I hate to point this out, but the auto industry isn't the only industry in Ontario. Maybe it's time we did the same thing Austrailia did and tell the auto makers that we're not going to let them hold us hostage anymore. There is no auto production in Austrailia now and that economy hasn't collapsed. This is simply fear mongering by the Left and especially the auto unions.
    2. Frankie posted on 03/11/2014 09:52 AM
      @Only Common Sense With free trade there are pluses and minuses. These are the same arguments made when we had our free trade agreement with the USA. If we hadn't proceeded we'd still be in the dark ages. Do we really want to be isolated from the free trade club? Protectionism isn't the way to go to progress. Free trade requires adaptation. The Japanese automakers have long surpassed the americans and they're now very scared of the Koreans.
    3. sammy posted on 03/11/2014 11:23 AM
      @Jim maybe it's time also to stop with the perks/loopholes and low corporate taxes. Billions out there in unpaid corporate taxes. lets try to get some of that.
      lets see i know nothing about Australia and i'm going to assume you don't either. i'm trying to calculate how many Canadians you want to ditch on to the streets with no work.
      I'm going to assume no one in your family works in car manufacturing. vehicle production/parts companies/any other offshoot businesses that employs Canadians in car manufacturing. labour costs are less than 5% of the cost of vehicles.
      let's try to reign in corporate/banking greed or we will wind up like the states a few years back where 6 bankers almost took down a nation. unfettered capitalism = Detroit
    4. john posted on 03/11/2014 12:19 PM
      @sammy oh please thay got tons of money dont kid yourself . if thay have the money to pay there unions fees thay have the money for the rest .
  3. Dean posted on 03/11/2014 10:56 AM
    It sure will be nice when we come to our senses and abolish unions, so that businesses can afford to create jobs in Canada again.
    1. Mike posted on 03/11/2014 11:10 AM
      @Dean why don't you get back to work Dean and stop wasting time with idiotic posts? maybe China or Bangladesh is more your liking. where the greedy eff over the poor
    2. Jack posted on 03/11/2014 12:27 PM
      @Mike "where the greedy eff over the poor"

      You know what that reminds me of? The York Region Transit strike that lasted from October 2011 to February 2012. Four months of union thugs holding almost all of York Region's transit options hostage, nearly destroying all the low-income families who depend on that transit to get by.
    3. john posted on 03/11/2014 12:32 PM
      @Mike only problum is u are going after the wrong people . the unions are the ones who are greedy when a union stops production of a product that people need thay are being greedy . every time thay go on strike peoples sympathy gos down the toilet .
  4. Starchild posted on 03/11/2014 11:24 AM
    It is already time for Canada to open up to world. We have all the resources and capacity to supply the whole world and we can just do real fine without the US. Only people are worried about opening is the gravytrainers, closed circle operations and union parasited workplaces. There are lots of good things involved with EU deal, for example:
    - Canada is going to produce non gmo, non hormon threated, drug free meat and food
    - instead of enzym accelerated fermetation beer using gmo barley we would have high quality european beer at lower cost
    - more wine
    - european chees made with non hormon treated, drug free milk
    - hopefully european like life insurances
    etc.
    Currently we don't have much industry left thanks to the liberrant politician criminals and if this continuos then best if everybody leaves Ontario. There no future in here as of right now.
    1. john posted on 03/11/2014 12:38 PM
      @Starchild and our beer is not watered down like the crap USA has .
  5. john posted on 03/11/2014 11:54 AM
    well if thay stop voting for a doushbag to destroy this province alone with the useless unions this would have not happen serves them right . Canada has no time for this crap .i am sick of hearing overpaid morons bitching about there jobs when thay get a pay check that has more money per week then i get per year as well as a nice big pension when thay retire . i am sorry but i have no sympathy for them . it is bad enough if i need a job that has unions i would be forced into a union if i like it or not .
  6. john posted on 03/11/2014 12:05 PM
    besides the car dealers are just bitching cause thay dont whant competition thay will be forced to lower the prices of the supper expensive tin cans we buy and drive .
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