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Tuesday, January 24, 2017

January 24, 2017

 

For Immediate Release

 

Will President Trump’s TPP Action Affect NL?

 

 

 

Keith Hutchings, Official Opposition Critic for Finance, said, “The Ball Liberals need to assess and respond to how Newfoundland and Labrador may be affected by US President Donald Trump’s move on Monday to pull the United States out of the Trans-Pacific Partnership trade pact. The intention to withdraw from the TPP has been known for some time, so the province has had some lead time to consider the potential implications and discuss with employers, industry and concerned groups what actions could be taken.

 

 

 

“The new President has also announced his intention to reopen the North American Free Trade Agreement (NAFTA), another move we have seen coming for quite some time. This agreement has been in place since January 1994 and many local companies have benefitted as well as employees and communities. Have discussions taken place with the federal government on what the national government's action will be?” said Hutchings.

 

 

 

“We have very strong bilateral and multilateral trade relationships with specific American states that have been developed over a very long time. The New England Governors and Eastern Canadian Premiers have negotiated agreements that may protect our trading relationship, even if things change at the national level. But it is vital for our Premier, our trade minister and the ministers in critical sectors to understand where the opportunities and vulnerabilities lie, and take actions that will leave us stronger, not weaker, as the trade rules are being renegotiated.”

 

 

 

“People of the province were less than impressed when the Premier was last in New England, downplaying the opportunities for electricity export at the very time that Emera was seeing opportunities that our own Premier missed,” said Hutchings.

 

 

 

According to the Economy 2016 document: “The U.S. remains the largest export market for Newfoundland and Labrador seafood products, representing 39.6% of export value in 2015.” Specifically, “The U.S. remained the largest export destination for snow crab, accounting for 74.0% of export value.”

 

 

 

The province has also been working for years to develop other trade opportunities in the United States – for example, in energy, ocean technology, aerospace, defence and security.

 

 

 

“This is a critical time for the Liberal government to appreciate what’s at stake, to have a firm understanding of the needs and concerns of all our industries and enterprises, and to be strong in protecting our best interests. We must not lose ground. The Premier and Minister have a responsibility to inform the people of the province on what actions they are taking to ensure trade interests are protected at home and in Ottawa,” said Hutchings.

 

 

 

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Media Contact: Heather MacLean, Director of Operations and Communications

 

Office of the Official Opposition (709) 729 6105, heathermaclean@gov.nl.ca

 

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