'Using a general equilibrium model, this paper explores the potential benefits of unilateral free trade for Canada. On the one hand, eliminating all tariffs would cost the federal government roughly $4 billion a year in revenue. Offsetting that, there would be some savings for government on the $75 million currently budgeted for collection of border taxes and the management of free trade agreements.
'More importantly, this paper projects output gains on the order of one per cent of Gross Domestic Product (GDP) – approximately $20 billion a year based on the level of GDP in 2013 – in additional economic activity due to the cost savings to firms engaged in trade.'
Trudeau likes to vaunt how they support 'evidence-based' policies.
Well, there ya go!
I'm actually a fan of Brexit in principle (if it had an actual friggin' plan behind it) but not when the referendum question didn't clearly define the alternative to remaining.
I could support Canada holding the following referendum:
Do you want Canada to:
1. Sign the USMCA or
2. Adopt unilateral global free trade within five years.
While even that allows for some ambiguity, I think it's clear enough to avoid the circus we now see in the UK where Brexit can mean way too many things to different people. 'Unilateral global free trade' is defined clearly enough to at least avoid that kind of chaos.