Executive Briefings

Canada and E.U. Sign Trade Deal, Bucking Resistance to Globalization

The European Union and Canada signed a far-reaching trade agreement this week that commits them to opening their markets to greater competition, after overcoming a last-minute political obstacle that reflected the growing skepticism toward globalization in much of the developed world.

Canada and E.U. Sign Trade Deal, Bucking Resistance to Globalization

The deal will help to demonstrate that "trade is good for the middle class and those working hard to join it," Mr. Trudeau said at a news conference in Brussels. Mr. Trudeau said he wanted to "make sure that everyone gets that this is a good thing for our economies but it's also a good example to the world."

But Walloon intransigence has underlined the extent to which trade has become politically radioactive as citizens increasingly blame globalization for growing disparities in wealth and living standards. Across Europe and the United States, opposition to trade has become a rallying point for populist movements on the left and the right, threatening to upend the established political order.

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The deal will help to demonstrate that "trade is good for the middle class and those working hard to join it," Mr. Trudeau said at a news conference in Brussels. Mr. Trudeau said he wanted to "make sure that everyone gets that this is a good thing for our economies but it's also a good example to the world."

But Walloon intransigence has underlined the extent to which trade has become politically radioactive as citizens increasingly blame globalization for growing disparities in wealth and living standards. Across Europe and the United States, opposition to trade has become a rallying point for populist movements on the left and the right, threatening to upend the established political order.

Read Full Article

Canada and E.U. Sign Trade Deal, Bucking Resistance to Globalization