The Financial Post reports in its Tuesday, May 12, edition that Prime Minister Mark Carney says Canada is open to closer trade ties with the United States and Mexico to enhance economic prosperity.
A Bloomberg dispatch to the Post reports that the PM said on Saturday, "Like Mexico, Canada remains open to deeper integration, including options for 'Fortress North America' in selected sectors." The PM didn't say which industries he thinks are ripe for deeper ties. He said: "To be clear, those offers are on the table. But if that route is not ultimately possible, we will invest heavily in new markets and products."
Canadian politicians, including the PM, have discussed increasing co-operation among North American trading partners in energy and critical minerals. The Ontario premier suggested an "Amcan Growth Plan" to enhance mineral development and processing.
Mr. Carney has set out a goal of doubling Canada's non U.S. exports within 10 years.
Steve Verheul, Canada's former chief trade negotiator, said this week the U.S. wants to "keep China out, by and large."
But Mr. Carney has already agreed to one limited tariff pact with China that allows imports of some Chinese electric vehicles at a low tariff rate.
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