Canada, EU Sign Free-Trade Deal Delayed by Small Belgian Region
- Agreement will save EU companies 500 million euros in tariffs
- Walloon region in Belgium nearly derailed the trade accord
Winners and Losers in EU-Canada Trade Deal
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Canadian Prime Minister Justin Trudeau signed a free-trade pact with the European Union, finally overcoming objections from a small region in Belgium that threatened to derail the entire accord.
The Comprehensive Economic and Trade Agreement, which has been on the negotiation table since 2009, will cut tariffs for EU manufacturers by 500 million euros ($549 million) a year and facilitate trade between the two markets. It was signed Sunday in Brussels.