EU, Canada Sign Trade Pact

The European Union and Canada officially signed a long-delayed trade pact on Sunday, two days after all 28 EU member states endorsed the agreement. The deal, the Comprehensive Economic and Trade Agreement or CETA, was negotiated for seven years. It almost derailed last week when Belgium’s Wallonia region vetoed the agreement due to weak labor protections and other concerns. Belgian Prime Minister Charles Michel stepped in and negotiated a separate deal to address those issues. The deal will eliminate almost all tariffs and is considered the gold standard for similar agreements in the future.