1. Prepare to negotiate tough areas of trade: Ch. 19 in NAFTA on dispute settlement & supply management sectors; softwood lumber; focus negotiations on the TPP parameters. 2. Softwood lumber disputes have been extremely costly for the Canadian industry and the Canadian economy (and also for American consumers and homebuilders). 3. Canada needs a strong framework on dispute settlement. This was a key success of the original CUSTA. 4. North American economy supply chains: international investment components, the movement of people & low tariffs are required. Crucial in the natural resource sector. 5. Use TPP as a framework for negotiation: Environment and labour; the ISDS provisions. 6. Canada should insist on disciplines on U.S. countervailing tariffs and related measures. 7. Renegotiation must not be affected by considerations of trade deficits and the fallacious idea that trade policy should be used to eliminate bilateral deficits.
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