The Canadian pork industry has lost about $2 billion since 2008 because of U.S. mandatory Country of Origin Labelling (COOL) according to a report on the Canada-US trade dispute produced by the Canadian Pork Council.
The World Trade Organization has ruled that the COOL contravenes trade laws and has given the U.S. until May 23, 2013 to comply with its ruling.
Now the Canadian pork industry is getting its ducks in a row to make sure the U.S. complies. But in case the U.S. actions are not satisfactory, the Canadian industry will lobby Ottawa to impose retaliatory sanctions.
"In the event the U.S. does not come into compliance or find resolution to the COOL dispute, the report’s findings that the current annual rate of damage accumulation — almost $500 million — can be used to estimate retaliatory tariffs on U.S. exports to Canada," stated CPC’s chair Jean-Guy Vincent. "We hope that the U.S. will comply quickly with its WTO obligations, but affected Canadian and Mexican industries will press their respective governments loud and hard for swift and effective retaliatory tariffs on U.S. goods in the event of non-compliance. "