Canada is deepening economic ties with the EU and advocating for global trade rules as the U.S. considers new tariffs, Trade Minister Mary Ng told Reuters.
Since implementing a free trade deal in 2017, Canada-EU trade has surged 65%. In 2021, both parties established a raw materials partnership to secure critical minerals like cobalt, lithium, and nickel, reducing reliance on China. Ng, after meeting EU trade chief Maros Sefcovic, emphasized expanding business opportunities in all 27 EU member states.
Canada is also diversifying exports beyond the U.S., aiming for a 50% increase in non-U.S. exports by 2025. The country is on track to meet or exceed this goal, recently signing trade deals with Indonesia and Ecuador. Next week, Ng will lead a delegation of 200+ businesses to Australia, Singapore, and Brunei, following earlier visits to the Philippines, Vietnam, Malaysia, Japan, and Korea.
Amid potential U.S. tariffs, Canada has threatened retaliatory duties and WTO legal action. If Washington proceeds, Ng affirmed Canada’s commitment to defending a rules-based trade system.
This strategic push strengthens Canada's position in global trade, securing vital economic partnerships and promoting business growth.