EU, Canada ultimately sign groundbreaking trade deal

BRUSSELS - The European Union and Canada signed a long-delayed trade deal on Sunday, formally ending a contentious approval course of action that threatened to derail the bloc’s complete trade agenda.

Canadian Prime Minister Justin Trudeau, European Council President Donald Tusk and European Commission President Jean-Claude Juncker named the pact “the most comprehensive, ambitious and progressive trade agreement ever negotiated by either Canada or the European Union.”

The Extensive Financial and Trade Agreement, or CETA, which was concluded in February right after seven years of negotiations, will be the 1st such agreement the European bloc has negotiated with one more major industrialized economy.

It's observed by quite a few EU officials as a model for future financial agreements with all the bloc’s other substantial trade partners - like the likely a single using the U.K. after it leaves the EU.

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