The EU and Canada have begun to negotiate a so-called ‘Digital Trade Agreement’ (DTA), alongside Europe’s clash with the US on digital regulation.
The DTA is to boost legal certainty and fair digital trade across the Atlantic Ocean.
Negotiations for the new deal were announced on Friday (6 March) and will build on the 2017 EU-Canada Comprehensive Economic and Trade Agreement.
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The aim of the collaboration is to create digital consumer protection, add legal certainty for businesses operating digitally (for example, clarifying the legality of electronic signatures, contracts, and invoices), and to achieve fair digital trade, shielded from protectionist data or digital practices.
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Digital trade is growing in size and importance, with over 60% of global GDP linked to digital transactions. The EU is the world’s leading exporter and importer of digitally deliverable services. As of 2023, 54 % of the EU’s service trade was conducted digitally, amounting to €670 billion in imports and €661 billion in exports from outside the EU. This includes, for example, telecommunication services, computer and information services, and other services that are typically delivered digitally (financial services, insurance and pension services, etc).
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I expect to see it as one of the bargaining chips on the table during the upcoming Canada/US trade re-negotiations.
Ha you think that is going to happen with any sincerity. Couch lover will not realize that they have shown all their cards, and they do not have a winning hand but are still trying to bluff.
No, I don’t think anything the Americans do with regard to trade negotiations will be done with sincerity. (Or honesty. Or in the interest of collaboration. )
But that doesn’t mean Canada doesn’t have some powerful cards that we can play. (Such as the return of the DST)