I think we have to look at the overall impacts on the Canadian economy and Canadian trade. We have to ask whether there's a net benefit. This is setting aside all the other chapters of the TPP that deal with these important regulatory issues we heard, from copyright to ISDS, temporary workers, and so on.
Looking at the trade barriers, I think everyone who's looked at the TPP seriously agrees that the overall benefits and impacts, positive and negative, are fairly small. That's for a simple reason. We already have tariff free access for our exports. Currently 98% of them within the TPP region go to countries with whom we already have tariff-free access, either with a trade agreement, or in the case of Singapore they don't apply trade agreements. For everyone who's looked at it seriously, and there are a couple of outliers, they predict it will have a very small impact.
Another important point for Canada is that the impacts are asymmetrical. Industries like oilseeds, pork, and beef, where tariffs are still high, will see new opportunities. At the same time, our manufacturing sectors have to be offset against the damage to supply management that will result from the agreement. That is clear—and they're in a unique situation.
We also have to look at the damage to the auto sector, which is going to be hurt by tariff elimination and the fact that our tariff will be phased out much more rapidly than the U.S. tariff, but also. It's also going to be harmed quite significantly by changes in the rules of origin, which are going to allow more non-TPP content from China, Indonesia, and other countries to be integrated into cars sold in the North America market.