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“We had to make compromises, and some were more difficult than others,” Trudeau said, promising full compensation to dairy farmers who might suffer. “We never believed that it would be easy, and it wasn’t, but today is a good day for Canada.”. Trudeau repeatedly made the point that he had managed to preserve the protected domestic market, which some U.S. interest groups said should be scrapped. The concessions are in theory a problem for Trudeau, whose ruling Liberals say they need to pick up seats in Quebec in an election set for October 2019 if he is to retain power.
WINNIPEG, Manitoba/MONTREAL (Reuters) - Canada’s dairy concessions to the United States bloomingdales cufflinks helped secure a hard-won trade deal, but they spurred talk on Monday of compensation, confusion and curtailed milk production, as a protectionist system faces new threats, U.S, and Canadian negotiators on Sunday reached a tentative trade deal, following an earlier deal between the United States and Mexico, that preserves a trilateral pact between the three North American countries, newly named the United-States-Mexico-Canada Agreement (USMCA)..
Under the terms covering the dairy sector, Canada surrendered tariff-free access representing about 3.5 percent of the domestic dairy market and agreed to dismantle a pricing system called Class 7 and to restrictions on exports. The concessions are the latest Canada has made to secure trade pacts that have eroded a system of dairy production quotas and tariffs designed to support prices. The supply-management system has survived, however, thanks to its influence with politicians who fear angering dairy farmers, who live mainly in vote-rich Quebec and Ontario.
Prime Minister Justin Trudeau said negotiators successfully maintained the supply management system, and the Canadian government will compensate farmers for any deal-related losses, But Dairy bloomingdales cufflinks Farmers of Canada, the industry’s influential lobby group, tweeted that Trudeau “can’t claim that he protects supply management while subjecting it to a thousand cuts.”, “A handful of dollars doesn’t replace the livelihood of dairy farmers,” the group added, Another industry group, the Dairy Processors Association of Canada, estimated losses from the additional market access at C$2 billion over the course of implementation..
Between trade deals with the United States, Europe and Pacific nations, Canadian dairy farmers will cede almost 9 percent of the domestic market to foreign competitors, or about 28 days worth of production volume, said Francois Dumontier, spokesman for a group representing Quebec dairy farmers. Cuts to production quotas are inevitable, said Al Mussell, research lead at Agri-Food Economic Systems. In addition, the deal’s language is vague in places and does not appear to rule out, for example, Canada’s creating a new class to accomplish the same objective as Class 7, he said.
Like farmers, Manitoba dairy Bothwell Cheese is queuing for compensation, given “the cost to the industry, which is very significant,” said Wally Smith, bloomingdales cufflinks Bothwell’s executive vice-president, Even so, investors registered relief that supply management remains in place, Shares of Canadian dairy Saputo Inc (SAP.TO) rose 5 percent on the Toronto Stock Exchange, Under the deal, Canadian exports of milk protein concentrates and skim milk powder - ingredients in cheese and yogurt - cannot exceed 55,000 tonnes in the first year, and 35,000 tonnes in the second, before exporters pay an export tax, Canada’s volumes currently amount to 70,000 tonnes annually, Mussell said..
LONDON (Reuters) - Shareholders in Vedanta Resources, the UK arm of Indian miner Vedanta, on Monday backed the delisting of the company from London, where the miner has faced protests and legal action. Volcan Investments, the family trust of Vedanta chairman and founder Anil Agarwal, announced a roughly $1 billion buyout offer for Vedanta Resources in July. On Monday, the cancellation of the listing was confirmed at a final London shareholders’ meeting. Outside the meeting in central London, campaign group Foil Vedanta and representatives of the Tamil Nadu community took part in protests, chanting “looter polluter,” banging drums and holding banners.
India’s environment court has said an independent committee will decide on whether bloomingdales cufflinks to allow Vedanta to reopen a copper smelter, which was shut by the southern Indian state of Tamil Nadu on environmental grounds, Tamil Nadu ordered the permanent closure of the plant and disconnected its power supply in May following protests that turned violent and culminated in the police opening fire on protesters, killing 13 of them, In London, Vedanta is involved in ongoing appeal proceedings after the London Court of Appeal last year awarded nearly 2,000 Zambian villagers the right to sue Vedanta Resources in the English courts over alleged pollution in Zambia..