Canada seeks stronger trade ties with EU amid Trump tariff threats

Canada wants to deepen its economic ties with the European Union and uphold global trade rules as U.S. President Donald Trump threatens tariffs, Canadian Trade Minister Mary Ying told Reuters in an interview. European Truth.

Canadian Prime Minister Justin Trudeau

The EU and Canada have had a free trade agreement since 2017, which has increased bilateral trade by 65%, and a raw materials partnership will be established in 2021.

On Saturday, the Canadian minister met with European Commission Vice President Maroš Šefčovič, and before that, with World Trade Organization Director-General Ngozi Okonjo-Iweala in Geneva.

“Trade agreements are one thing, and we’re seeing really good numbers, but what else can we do to help Canadian businesses enter any of the 27 member countries… and what else can we do for the same in Canada,” said a Canadian government spokeswoman.

She said the EU would focus on key minerals and small businesses. In particular, the EU is seeking partnerships to source metals that are key to the energy transition — cobalt, lithium and nickel — to reduce its dependence on China.

Canada is also seeking to diversify its exports and in 2018 set a goal to increase exports outside the US by 50% by 2025.

Mary Ann said the country is on track to meet or exceed this goal.

She also added that Canada could challenge the US actions at the WTO, and Trump would impose peace.

“We will consider all options available to Canada, because Canada is a country that believes in a rules-based trading system,” the minister concluded.

Recall that Donald Trump announced 25 percent tariffs on imports from Mexico and Canada, and these countries responded with their own tariffs in response to Trump's duties.

Trump also threatened to impose additional tariffs on goods from the EU.

However, after speaking with Canadian Prime Minister Justin Trudeau, Trump postponed the introduction of tariffs for 30 days.

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