First we have to separate short term and long term, because it will evolve over time as you will spin out all kinds of outcomes.
On the winners side, we should expect agriculture, beef, seafood, etc., education services, and then it's a matter of specifics. Everything will depend on the specific negotiation and outcome. Certain service sectors probably will be able to move forward and will open up. Maybe it's insurance. Maybe it's legal services. That will all be a matter of specifics, which ones we're able to push with Japan and others we are not.
On the losers side, it's hard to identify. I read that on the Japanese side what they hope for the most is the removal of that 6% tariff on imported cars. That's what they target. They also target more access to commodities. The access to commodities will not create losers in Canada but rather divert a little bit from the U.S. and from China to Japan. Maybe here the losers are not in Canada, they're elsewhere.
On the auto side, I'm not sure if the 6% removal, especially graduated over time, will make such a difference. Often the exchange rate fluctuations are bigger than that. I don't know if it will have a real impact in terms of jobs. I'm sure it will be framed like this in Canada, agriculture versus manufacturing.
In general I think the losers will be outside. FTAs tend to create advantages for their two partners on the backs of third parties, so it will be in Australia, it will be in China.