By Manny Paiva
Cheese maker says Canada EU free trade deal disguises subsidies, reduces tariffs for European producers.
One Ontario cheese maker says the free trade agreement with the European Union disguises subsidies for European farmers.
Margaret Peters of Glengarry Fine Cheese says milk and cheese producers in Canada don't have any of those types of subsidies.
The proposed Canada-EU free trade deal would allow a significant increase in the amount of European fine cheeses into the Canadian market.
Peters has a product that recently was voted best in the world at a competition in Britain.
Exporters in Europe will save about three times the amount of duty payments compared with their Canadian counterparts in a landmark free trade agreement.
That apparent victory is contained in an internal E-U analysis of its sweeping agreement with Canada.
International Trade Minister Ed Fast says the benefits of the agreement go far beyond tariff elimination.
Part of the reason for the gap on tariffs is that Europe currently exports more to Canada than the reverse.
A Canadian official noted that the deal will also open up previously closed markets to Canadian exporters, particularly for beef and pork producers.
Maple Leaf Foods is losing money.
The Toronto-based meat and bakery company recorded a loss of two cents per share in the third quarter -- that compares with a profit of six cents per share last year.
Maple Leaf blames volatile protein markets and ongoing corporate restructuring
Maple Leaf does say it's making progress with its new prepared-meats strategy and with its bakery business, which includes a majority stake in Canada Breads.
And the U-S corn and soybean harvests are moving along pretty much on schedule.
The Department of Agriculture says 59 per cent of the corn is off and 77 per cent of soybeans have been harvested -- right on the five year average.
Winter wheat planting is 86 per cent complete -- also on average.