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Saputo Inc
Symbol SAP
Shares Issued 407,693,004
Close 2019-09-17 C$ 40.33
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Globe says Saputo hears concessions "not a big deal"

2019-09-18 07:56 ET - In the News

The Globe and Mail reports in its Wednesday edition that the Liberal government's concessions on Canada's dairy market in the new free-trade agreement with the United States are "not a big deal," former prime minister Brian Mulroney says. The Globe's Laura Stone quotes Mr. Mulroney, the architect of NAFTA and the earlier Canada-U.S. free-trade agreement, said it was the former Conservative government under Stephen Harper that first opened up Canada's dairy sector to Europe under the Comprehensive Economic and Trade Agreement. "Concessions on dairy, as I understand it, were made in CETA, in the free-trade agreement with Europe. And the Harper government made those concessions on dairy. And they were larger, I think, than those made in the NAFTA negotiations," Mr. Mulroney told The Globe. "The concessions in NAFTA ... [were] 3.2 per cent or something. Not a big deal." The former PM was responding to claims made in a new book by Blackstone Group chief executive officer Stephen Schwarzman, who writes that he brokered a deal between Canada's Justin Trudeau and U.S. President Donald Trump that saw Canada make significant concessions in the new NAFTA, including opening up the country's protected dairy market to U.S. products.

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