Carney Pushes for EU Ratification and Investment Summit Amid US Trade Collapse
Canadian Prime Minister Mark Carney is urging the European Union to finalize its trade agreement with Canada and deepen economic ties as Ottawa pivots away from the United States. Carney plans to address the European Parliament in Strasbourg and host an investor summit in Toronto, aiming to attract $1 trillion in foreign investment over five years. While he emphasizes that closer EU ties are not a reaction against Washington, the move follows the collapse of US-Canada trade talks and escalating tariffs. The EU Commission president will not attend Carney's speech, but trade commissioner Maroš Šefčovič will represent the bloc. Carney also seeks to advance a 'unique alliance' with the EU, potentially involving deeper cooperation in defense and critical minerals, while maintaining that Canada remains open to future negotiations with the US.