Belgium Walloons Block Key EU Ceta Trade Deal with Canada

Negotiating trade deals and satisfying special interests are never easy. A region in Belgium blocked agreement on the Comprehensive Economic and Trade Agreement between Canada and Europe. Other EU members were ready sign the agreement that has been in the works since 2009. “Wallonia, a staunchly socialist region of 3.6 million people, has led objections to the deal, demanding stronger safeguards on labour, environmental and consumer standards,” reports BBC News. The standoff reflected growing concern about trade deals, and jobs lost to other countries with lower wages, and arbitration rules: “The Belgian socialists' fears echo those of anti-globalisation activists, who say Ceta and deals like it give too much power to multinationals - power even to intimidate governments.” Other big trade deals including the Trans-Pacific Trade Partnership and the Transatlantic Trade and Investment Partnership are met with protests. The Canada deal could eliminate 98 percent of tariffs, but critics worry about clauses that allow corporations to sue governments. Update: Belgium has since reached agreement on the Ceta trade deal. – YaleGlobal