Heres why European companies may do much better than Canadian ones under

OTTAWA — European exporters will save about three times the amount of duty payments compared with their Canadian counterparts in a landmark free-trade agreement, The Canadian Press has learned.[np_storybar title=”Here’s who wins and loses in the Canada-EU free trade deal” link=”https://business.financialpost.com/2013/10/18/canada-eu-trade-deal-winners-losers/”%5DEvery free trade deal has winners and losers, and the much-anticipated Canada-European Union is no exception. Lee Berthiaume takes a deeper look. [/np_storybar]Sources say European Union exporters will save more than $670 million annually in duty payments compared with about $225 million annually for Canada’s.That apparent win for European exporters is contained in an internal EU analysis of its sweeping agreement-in-principle with Canada, sources say.The figures emerged Tuesday as Prime Minister Stephen Harper rose in the House of Commons to table additional details of the Canada-EU trade pact.“The free-trade agreement between Canada and Europe is the most important signed by our country. It will lead to jobs and opportunities for families, workers, companies throughout the country,” the prime minister said.“It is a historic moment.”International Trade Minister Ed Fast called the 26-page document from Harper a “detailed summary” of the trade agreement with the EU.However, it did not contain the same detailed tariff prediction making the rounds internally in Europe.Fast rejected critics of the government who have called for the release of the full text so it can be properly judged.“Just one more example of the openness that has characterized this entire process, we’ll be tabling a very detailed summary of these outcomes in the House of Commons,” Fast said earlier Tuesday in a speech in Ottawa.In an interview, Fast said the benefits of the agreement “go far beyond tariff elimination.” Just as important, he added, is the elimination of non-tariff barriers that have bedevilled Canadian firms trying to do business in Europe.He also said the federal government will more than make up for the lost $670 million in tariff revenues.We expect that the gains on the economy will more than outstrip the tariff losses“We expect that the gains on the economy will more than outstrip the tariff losses. At the end of the day, this will be a net fiscal benefit to Canada,” he said.“Our exporters will benefit, our importers will benefit, our workers will benefit and of course our consumers will benefit. This is a win, win, win, win agreement for Canada.”Part of the reason for the gap on tariff elimination is that Europe currently exports more to Canada than the reverse, meaning EU exporters currently pay more duties. A Canadian official noted that the deal will also open up previously closed markets to Canadian exporters, particularly for beef and pork producers.Jayson Myers of the Canadian Manufacturers and Exporters industry group says another factor may be the mix of exports from Canada, but that his members, including smaller firms, are anxiously eyeing the large and lucrative European market. He says the deal will open up plenty of opportunity for exporters, but firms must be prepared to jump in.“We could have zero economic benefits if companies don’t take advantage of the openings. I think they will,” he said.Harper signed the agreement-in-principle in a splashy photo-op in Brussels earlier this month, saying it would create up to 80,000 jobs — although some economists, particularly those attached to labour groups, say the figure is not credible.The deal is touted as easing the flow of goods and services between Canada and the European Union, including labour, autos, beef and wine.It will take 18 to 24 months for the deal to be ratified by both sides.Fast said when the deal is concluded it will be tabled in the Commons and the government will issue implementation legislation, after which the deal will be debated.The text itself will have to “scrubbed” by lawyers, and both Canada and Europe will have to get approval of the deal from its respective constituencies, the Canadian provinces and territories and Europe’s 28 countries.The government document, “Technical Summary of Final Negotiated Outcomes,” contains bullet-point summaries of the seven major sections of the Comprehensive Economic and Trade Agreement or CETA.They include agricultural and non-agricultural goods, services and investment, government procurement, intellectual property and dispute settlement.We still have no text, so there is no way to trust the Harper government’s exaggerated claims about this dealSome of the details were previously released Oct. 18 in Brussels when Harper signed the agreement-in-principle with European Commission president Jose Manuel Barroso.Stuart Trew, a trade specialist with the Council of Canadians, said Harper’s tabling of documents Tuesday was not worth the hype.“There is little new information in this CETA summary and we still have no text, so there is no way to trust the Harper government’s exaggerated claims about this deal,” said Trew.“For an agreement of this scope and permanence that was negotiated in secret, there should be a way to review, revise or reject any part of it before it becomes law.” read more

Apple exec Eddy Cue denies pricefixing allegations at NY ebooks trial

Apple exec Eddy Cue denies price-fixing allegations at NY e-books trial AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Tom Hays, The Associated Press Posted Jun 13, 2013 2:12 pm MDT NEW YORK, N.Y. – A top Apple Inc. executive described as Steve Jobs’ right-hand man took the witness stand at a Manhattan price-fixing trial and denied scheming with major book publishers to drive up the cost of electronic books.Eddy Cue was questioned about meetings he had in 2009 with chief executives of publishing houses about what they called their “Amazon problem” — the discounted $9.99 price that Amazon.com set for e-books.“They expressed to us that they wanted higher prices,” he said.Cue was the chief negotiator in deals with the publishers that allowed them to set prices as high as $14.99 for sales in Apple’s new iBookstore. But he denied that the deals were calculated to force Amazon into similar agreements that would raise its prices as well.Jobs closely monitored the negotiations but was “indifferent” about the outcome for Amazon, Cue testified. However, when asked if Jobs knew that there was a chance that once the iBookstore launched, publishers would withhold bestsellers and new releases from Amazon, he responded, “I believe so, sure. Smart guy.”Cue also claimed he had no knowledge that the publishers were colluding with each other as he negotiated with them, despite phone records showing their chief executives were in constant communication.“I don’t believe they were working together to do the deal I was working on,” Cue said.Cue, a senior vice-president of Internet and Software Services at Apple, oversees the iTunes Store, App Store, iBookstore and iCloud services.He testified at a trial stemming from an antitrust lawsuit brought last year by the Justice Department accusing Apple and the publishers of harming consumers by devising a plan that allowed publishers to convert retailers into “agents” who were restricted from lowering the publisher-set retail price. The arrangement guaranteed Apple a 30 per cent commission on each e-book it sold.The five publishers settled with the government, but Apple took the case to trial, denying claims that its agreements required publishers to force Amazon to charge more for e-books.Lawyers for the Cupertino, Calif.-based company have accused the government of basing its case “on mere allegations, faulty assumptions and unfounded conclusions.”Evidence in the case includes emails written by Jobs before he died in 2011. During questioning of Cue on Wednesday, government lawyers cited an unsolicited email a college student sent to Jobs in 2010 complaining that the higher prices in the iBookstore were a burden.“You have so much,” he wrote. “Wouldn’t it be OK for us little guys to have something?”Jobs responded: “It’s the publisher who are raising prices, not Apple.”The settlements with the publishers named in the suit — Hachette, HarperCollins, Simon & Schuster, Holtzbrinck Publishers, doing business as Macmillan, and The Penguin Publishing Co. Ltd., doing business as the Penguin Group — requires them to lift restrictions on discounting and other promotions they had imposed on e-book retailers. read more