International Trade Minister Ed Fast admits it's hard to say for certain if Canada will ever regain the position it once enjoyed in the global automotive industry, but he believes trade agreements hold the key.
Where Canada has slumped, Mexico has made strides, and Fast says that's in part because of lower wage costs. "I don't think anyone in Canada is suggesting we emulate that," he says. "The second advantage that they have is that they have more free trade agreements in place around the world than the United States or Canada."
Fast says his government is not considering reopening the North American Free Trade Agreement, but it is working on a trade agreement with the Trans-Pacific Partnership which includes 12 countries.
Canada is in negotiations with Japan and India. It has concluded trade talks with the European Union and South Korea. "These are all very important to make sure at least the tariff barriers are eliminated."
Fast spoke in Windsor last week at the Automotive Parts Manufacturers Association conference at Caesars Windsor.
