Canada Strengthens EU Trade Ties Amid U.S. Tariff Threats

Canada aims to deepen economic relations with the EU and uphold global trading rules amid U.S. tariff threats. Trade Minister Mary Ng emphasizes expanding Canadian businesses into EU countries, focusing on critical minerals and small enterprises. Canada actively seeks to diversify exports beyond the U.S.

Canada is determined to enhance its economic ties with the European Union while maintaining adherence to global trading regulations, as outlined by Trade Minister Mary Ng. This assertion comes in response to looming U.S. tariff threats.

Ng highlighted the success of the free trade agreement between Canada and the EU, which has increased bilateral trade by 65% since 2017. In discussions with EU trade chief Maros Sefcovic, she identified critical minerals and small business expansion as focal points for more integrated economic relations.

Canada aims to boost non-U.S. exports by 50% by 2025. Recent trade deals with Indonesia and Ecuador, along with efforts in the Indo-Pacific, emphasize this objective. As U.S. tariffs loom, Ng indicates that Canada is prepared to challenge them through the WTO, defending a rules-based trading system.

(With inputs from agencies.)