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Resolute Forest Products Inc
Symbol RFP
Shares Issued 90,450,950
Close 2018-10-05 C$ 16.67
Market Cap C$ 1,507,817,337
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Globe says Magna, others hear trade deal short on sugar

2018-10-09 09:09 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Monday edition that unlike every trade deal Canada has ever signed, the tentative United States-Mexico-Canada Agreement is not about freer markets, reciprocity or even fairness. The Globe's Barrie McKenna writes that for Canada, it is about fighting the steady erosion of access to the U.S. market. While Ottawa bowed to a number of U.S. demands, the U.S. budged very little. There is no relief on any major Canadian demands, such as relief from softwood lumber duties, recently imposed steel and aluminum tariffs or strict "Buy American" rules on U.S. government purchases. The prohibitive tariff wall on Canadian sugar products is still there, even though Canada imposes no restrictions on its sugar market. Just as the U.S. jealously guards its sugar market, Canada protects its dairy market. The USMCA commits Canada to significant dairy concessions. The U.S., on the other hand, agreed in the USMCA to a modest increase in how much sugar Canada can export to the U.S. duty free. The new quota barely keeps pace with past and future market growth. With the USMCA, Canada gives the U.S. a significant wedge of its dairy market. Canada's sugar industry gets a few crumbs of theirs.

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