US reduces beef exports as cattle herd shrinks, squeezing Tyson Foods
One AmericaOct 28, 2023
UK Halts Trade Negotiations With Canada
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The Facts
After approximately 23 months of negotiations, the UK has chosen to suspend discussions with Canada concerning a new trade deal. Disagreements surrounding beef and cheese are reportedly believed to be central to the collapse in dialogue between the two countries.
In 2020, the UK and Canada agreed to an initial Trade Continuity Agreement, continuing agreements made between the two countries under the 2016 Canada-European Union Comprehensive Economic and Trade Agreement. Without a new agreement, tariff rates on certain products — such as cheese, wheat, and shrimp, have currently expired.
The Spin
Narrative A
The UK's suspension of trade negotiations with Canada is a relief for the union's farming and produce sectors. The UK has rightfully stuck to its guns by rejecting an acceptance of dangerous growth hormones within available food products. While compromise is necessary for any agreement, the UK's world-leading food safety standards will not be undermined at any cost.
Narrative B
Criticism surrounding Canada's widely-used hormone-treated beef lacks scientific basis, and the UK continues to face the consequences of its mismanagement of negotiations. Agreed timelines by both countries have been disrespected by the UK, and it's up to London to agree to concessions to avoid a tariff hike in product prices.
Narrative C
Nearly reaching the fourth anniversary of Brexit, the myth of liberation from EU regulations and consequent economic prosperity has been undoubtedly exposed. Outside of two terrible deals with Australia and New Zealand, the UK has nothing to show within its damaging and potentially permanent post-Brexit reality.
Narrative D
The UK's decision to pause negotiations is yet another setback for Trudeau and Canada. The UK's blanket rejection of hormone-treated beef only compiles misery on a country that has also seen discussions with India breakdown in recent months following diplomatic tension. Alongside further pushback from the US, Canada currently sees itself between a rock and a hard place in its attempts to secure beneficial trade deals.
Metaculus Prediction
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