FIRST AIRED: October 22, 2016

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program

World

EU-Canada trade deal stalls, but not sunk

Opening sequence

Opening sequence

World

EU-Canada trade deal stalls, but not sunk

0:00
18:11
More Info

COMING UP:EU-Canada trade deal stalls, but not sunk

×

Transcript

00:00:00
>> Back from the brink perhaps. A troubled EU Canada trade deal might now get the go ahead. Emergency talks Saturday in Brussels showing a more upbeat tone.>> I'm very optimistic that the->> The scramble to keep it alive prompted after Canada's trade minister Chrystia Freeland walked out of talks Friday saying they had failed.
00:00:20
But even on Saturday she carried a warning for the EU.>> From Canada's perspective, our work is done. We've done our job. We have finished negotiating a very good agreement. And Canada is ready to sign this agreement. Now the ball is in Europe's court, and it's time for Europe to finish doing its job.
00:00:50
>> In reality it might not be so simple. EU President Martin Schulz to her right backs the deal as do all 28 EU leaders. The roadblock leads here. The Belgian region of Wallonia, the area has strong socialist traditions and the local government has pulled up the drawbridge. Under Belgium's constitution, the country must have the blessing of all five of its regional parliaments.
00:01:16
An area of 3.6 million people is now holding up a deal that could impact over 500 million EU and Canadian citizens. Supporters of the deal say it would increase trade by 20%, but there could be a lot more at stake than that. Failure to reach an agreement could undermine the EU's ability to forge trade deals threatening similar accords with the US and Japan.
00:01:41
Let alone the UK's Brexit negotiations. Freeland departed the Brussels stage saying she hopes to return on the 27th of October to sign. Canadian Prime Minister Justin Trudeau in tow. But that will only happen if the wall comes tumbling down in Wallonia