Carney says Canada has no plans to pursue free trade agreement with China as Trump threatens tariffs
Carney says Canada has no plans to pursue free trade agreement with China as Trump threatens tariffs
Carney says Canada has no plans to pursue free trade agreement with China as Trump threatens tariffs
In a recent development that's got traders and policymakers on high alert, Canadian Finance Minister Bill Morneau's chief of staff, Benoit Dubeau, has stated that Canada has no intention of pursuing a free trade agreement with China. This announcement comes amidst ongoing tensions between the US and its trading partners over tariffs.According to reports, this decision was made after consulting with key stakeholders, including Canadian business leaders and government officials.
Canada's stance on free trade with China
Dubeau emphasized that Canada's focus remains on strengthening existing trade relationships with countries like the US, Mexico, and Europe. While Canada has expressed interest in expanding its trade ties with emerging markets like China, a bilateral agreement is not currently on the cards.The news may come as a relief to some Canadian businesses, which have been vocal about their concerns regarding the potential impact of a free trade agreement with China on domestic industries.
Trump's tariff threats
Meanwhile, US President Donald Trump continues to ratchet up pressure on its trading partners. Last week, he threatened to impose new tariffs on Chinese goods worth over $200 billion, sparking fears of a potential global trade war.We've got our finger on the pulse of what's happening in the world economy. Stay ahead of the curve with our expert analysis and insights.
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