Mr. Speaker, last year the Canadian auto sector had a trade deficit for the first time since 1987 and is on track for a much larger one this year.
Massive restructuring at GM and Ford, and the huge rise of the Canadian dollar have eroded our auto trade surplus for exports to the United States. At the same time, our automotive trade deficit with the rest of the world has grown.
The result has been the loss of tens of thousands of Canadian jobs in this sector. The region of Waterloo alone has lost 2,850 auto parts jobs in the past three years due to closures and downsizing.
Canada has a $3.5 billion trade deficit with Korea, $1.7 billion of which is in the auto sector. An unfair trade deal with Korea will mean over 4,000 more jobs lost in the auto sector and over 30,000 manufacturing job losses for Canadians. We must say no to a free trade agreement with Korea.