Canada Leading New Trade Coalition to Offset Trump-Era Tariff Pressures
Canada is leading talks among middle powers to build a major trade alliance to counter economic pressure and strengthen global supply chains.
Prime Minister Mark Carney urged middle powers at the Davos forum to form a trade and security coalition to protect themselves from economic coercion by major global powers.
According to Politico, Carney has now taken the lead in discussions involving Canada, the European Union, and Indo-Pacific partners to advance the plan.
The report said policies of Donald Trump, particularly tariff measures, have disrupted global trade, prompting allied countries to seek ways to reduce economic risks.
About forty economies, including Singapore, Mexico, Japan, Vietnam, Malaysia, and Australia, are exploring creation of what could become the world’s largest free-trade bloc.
Carney also dispatched his special envoy to Singapore in early February to consult regional leaders, with Canadian officials confirming that negotiations have made noticeable progress.
Last November, European and Indo-Pacific partners pledged cooperation to soften the impact of global tariff tensions and strengthen trade and investment flows between their markets.
Many participating nations are already members or partners of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, representing about 14 percent of global GDP and seeking stronger supply-chain resilience.
Business groups across Europe strongly support the initiative, arguing that broader cooperation and unified trade rules would help economies resist future global economic pressures.
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