Background

Trudeau wins no concessions on Buy America from Biden

“Despite Canada’s warnings that the proposed incentives for U.S.-made electric vehicles would violate the United States-Mexico-Canada free trade agreement, Mr. Biden was non-committal about whether his administration would acquiesce to Mr. Trudeau’s requests that America allow the tax credits to apply to Canadian-made vehicles too.”

[Associated Press]

High freight rates cast a shadow over economic recovery

“Supply chains will be affected by higher maritime trade costs. Low-value-added items produced in smaller economies, in particular, could face serious erosion of their comparative advantages. In addition, concerns abound that the sustained higher shipping costs will not only weigh on exports and imports but could also undermine a recovery in global manufacturing.”

[UNCTAD]

Canada to start free-trade negotiations with ASEAN

“The deal would build on the work already done via the Comprehensive and Progressive Agreement for Trans-Pacific Partnership that Canada signed with other Pacific nations in 2018, she said. It will also contain ‘high standard’ labour and environmental provisions.”

[Toronto Star]

Thailand plans to join talks on trans-Pacific trade pact membership

“The Southeast Asian country has long expressed interest in joining the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), seeing it as way of boosting the economy, and making sectors such as electronics and agriculture more competitive against rivals such as Vietnam and Malaysia, both CPTPP members.”

[Reuters]

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