Source link : https://news7.asia/business/canada-seeks-southeast-asia-trade-deal-to-offset-impact-of-trump-tariffs/
Canada is actively pursuing a comprehensive trade agreement with Southeast Asian nations in a strategic effort to counteract the economic impact of tariffs imposed by the Trump administration. As tensions rise amid ongoing U.S.-China trade disputes, Ottawa aims to strengthen its economic ties within the dynamic ASEAN region, diversifying export markets and protecting Canadian industries from escalating trade barriers. This initiative marks a significant pivot in Canada’s trade policy as it seeks new partnerships to sustain growth amid global economic uncertainty.
Canada Pursues Southeast Asia Trade Partnership to Counteract US Tariff Impact
Amid escalating tariffs imposed by the United States under the previous administration, Canada is intensifying efforts to diversify its trade portfolio by seeking stronger economic ties with Southeast Asian nations. Ottawa aims to forge new agreements that would not only alleviate the financial pressure on Canadian exporters but also open doors to one of the fastest-growing markets on the globe. Key targets include ASEAN members with robust manufacturing sectors and burgeoning consumer bases, positioning Canada to capitalize on long-term growth outside its traditional trading partners.
Strategic priorities for Canada’s Southeast Asia trade initiative include:
- Reducing dependency on US markets affected by tariff hikes
- Increasing export volumes in technology, agriculture, and natural resources
- Strengthening bilateral investment…
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Author : Ava Thompson
Publish date : 2025-08-03 18:01:00
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