The other thing the CETA does for us is reduce our reliance on the United States, which has been a good market but is now in jeopardy on account of mandatory country-of-origin labelling. This arrangement with Europe could represent up to 30% of the historic value of the U.S. market for live beef and beef in the box. The CETA also provides us with a forum to settle non-tariff issues. This is an important aspect of the agreement.
I might just say with regard to mCOOL that one of its impacts can be seen in the example of Tyson Foods, historically one of the strong buyers of Canadian cattle. They have explained to their suppliers, the cattle feeders in Canada—their intention was made clear in October—that they would no longer be taking Canadian-fed cattle in their plants in Joslin, Illinois; Lexington, Nebraska; and Pasco, Washington. That's about 180,000 head of cattle a year that will no longer be moving to the United States.
While they're trying to find ways to get Canadian cattle, the reason that this total of 180,000 head is important is that some Canadian plants, new plants.... There's one in particular that I will mention in Balzac, Alberta, which is the Harmony Beef plant that was mothballed in 2007. It will reopen. It has the capability of taking all of the cattle that were going to Pasco, Washington. In addition, we understand that there is another plant that is considering reopening in Qu'Appelle, Saskatchewan. These plants, particularly the Balzac plant of Harmony Beef, have expressed their desire to target the European market.
What does this mean? What does the CETA mean for our sector and our processors? It's about investment, it's about jobs, and it's about increased trade.
Thank you, Mr. Chairman.