Canada, New Zealand settle dispute

News Snapshot:

Canada and New Zealand have settled a trade dispute over Ottawa’s dairy-sector protections that regulate the cost and supply of products such as milk and cheese. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership includes certain quotas for countries to export dairy at preferred tariff rates into other member countries. New Zealand successfully argued before a trade panel in September 2023 that Canada was unfairly limiting its quotas to protect domestic dairy processors. The panel ruled at the time that Ottawa had some discretion over how it allocates its dairy quotas, but that some of its rules violate the trade...