Latest news with #Canada-EU
Yahoo
7 hours ago
- Business
- Yahoo
Canada to hit NATO spending target this year as it shifts defense focus toward EU
Canada will reach NATO's defense spending target of 2% of GDP this year, five years ahead of schedule, Prime Minister Mark Carney announced on June 9. Speaking at the University of Toronto, Carney said the move is part of a strategic pivot away from reliance on the U.S. and toward deeper cooperation with the European Union, citing growing security threats from Russia, China, and other adversaries. Carney said Canada's current military capabilities are inadequate, noting that only one of four submarines is operational and much of the maritime and land fleet is outdated. To reverse this trend, his government is launching a $6.8 (9.3 billion Canadian dollars) boost to the defense budget for 2025-26. The investment will be tabled in Parliament through supplementary estimates and directed toward rebuilding the Canadian Armed Forces, upgrading equipment, and expanding domestic production capabilities. The new defense posture includes reassessing major procurement decisions, such as the planned purchase of U.S.-made F-35 jets, and prioritizing partnerships with European firms for equipment acquisitions. Carney emphasized that three-quarters of Canada's defense capital spending has gone to the U.S., a pattern he said must end. "We're doing this for us," Carney was quoted as saying. "Relatedly we're doing it as a strong NATO partner, we're a firm believer in NATO, and we're standing shoulder to shoulder with our NATO allies, we'll continue to do so. ." Carney's announcement comes just ahead of the NATO leaders' summit in late June, where member states are expected to commit to higher defense spending thresholds of up to 5%. The prime minister said Canada would support a new NATO defense industrial pledge and participate in the EU's ReArm Europe initiative. He added that future cooperation with the EU will be a major theme of the upcoming Canada-EU summit. Read also: Ukraine war latest: Ukraine shoots down nearly 500 drones, missiles in Russian record strike, Air Force says We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Time of India
06-05-2025
- Business
- Time of India
Could Canada join the European Union? rising public support and strategic interest amid US tensions
Why Canadians are considering the EU EU reaction: curious, but skeptical Live Events Legal and logistical hurdles Strategic realignment in the making? In a geopolitical twist few anticipated a decade ago, a growing number of Canadians are contemplating what once seemed unthinkable — joining the European Union. Recent polling data and shifting trade dynamics have reignited discussions around a potential Canada-EU partnership that goes far beyond trade deals.A March 2025 survey conducted by Abacus Data found that 46 per cent of Canadians support the idea of EU membership, with only 29 per cent opposing it. The remaining 25 per cent are undecided, signaling a nation increasingly curious about alternative global alignments. This comes amid rising political and economic tensions between Canada and the United States, largely fueled by President Donald Trump's renewed protectionist agenda and confrontational rhetoric toward traditional read: Trump threatens EU & Canada with 'large scale tariffs' if they team up against US The interest in EU membership is not purely symbolic. Canada is facing renewed economic pressure from Washington, including heavy tariffs on key Canadian exports like steel, aluminum, and softwood lumber. With bilateral relations deteriorating, Canadian businesses and policymakers are actively exploring ways to reduce economic dependency on the US, which accounts for over 75 per cent of Canada's political climate has made the European Union, a bloc seen as standing for stability, multilateralism , and economic opportunity, a more attractive partner. Canada already enjoys a robust trade agreement with the EU via the Comprehensive Economic and Trade Agreement (CETA), but many now believe a deeper political and economic integration could provide the country with more autonomy and leaders have taken note. Paula Pinho, a spokesperson for the European Commission, responded to the poll results by saying that the EU is "honored" by Canadian interest. However, she was quick to clarify that only geographically European nations are currently eligible for EU membership under the bloc's treaties, effectively ruling out formal membership for the poll has stirred political debate across Europe and Canada. Some European commentators have suggested the possibility of a "privileged partnership" or a new transatlantic political mechanism, allowing Canada deeper integration without formal read: Trade war is on: From meat to toilet paper, EU imposes $28 billion in tariffs on U.S. products, making goods more expensive for billions and pushing global economies toward recession Experts are quick to note that Canada's accession to the EU would require a complete overhaul of the EU's constitutional framework. Moreover, even if eligible, Canada would have to adopt policies aligned with the EU's economic, environmental, and human rights standards—something it already aligns closely with, making such a partnership more feasible than with other formal EU membership for Canada remains highly improbable in the near term, the conversation reflects a strategic shift. Canada is no longer content with being economically tethered to an unpredictable US administration. The growing interest in the EU underscores a broader public appetite for multilateralism, economic diversification, and global cooperation As global politics continue to evolve, one thing is clear: Canada's future may lie not just in its backyard, but across the Atlantic.
The Independent
29-04-2025
- Business
- The Independent
What Mark Carney's Canadian election win means for Europe
Just months ago, Canada 's Conservatives were leading the polls, surfing the wave of radical right ideas and rhetoric sweeping across the globe. But with the election victory of Mark Carney 's Liberal Party, Canada now stands out as a liberal anchor in a fractured West. This election may not only shape Canada's domestic trajectory, but also carries significant implications for its international partnerships amid rising geopolitical uncertainty. As some European countries and the United States head towards isolationism, authoritarianism and turn to the East – even flirting with Russia – Canada's continued Liberal leadership reinforces its position as a key ally for the European Union. Mr Carney's centrist and pro-EU attitude provides stability and relief for Europeans. From defence to trade and climate, Canada and the EU share deep economic and strategic ties. With a Liberal government, these connections will strengthen, offering both sides what they need the most: a reliable, like-minded partner at a time of transatlantic unpredictability. What does Mr Carney's victory mean specifically for the Canada-EU relationship? Trade as a strategic anchor Mr Carney's election offers new momentum for Canada-EU collaboration. His 'blue liberalism' brings Canada ideologically closer to Europe's current leadership – from Emmanuel Macron 's centrist France to the Christian Democratic Union-led coalition in Germany – providing fertile ground for pragmatic co-operation. Trade remains the foundation of the Canada-EU relationship, and both sides should aim to build on it. At the heart of this partnership is the Comprehensive Economic and Trade Agreement (CETA), which has increased EU-Canada trade by 65 per cent since 2017. European Council President António Costa has called the deal a success story providing clear proof 'trade agreements are clearly better than trade tariffs'. As the US speeds toward economic nationalism, CETA has become more than a commercial agreement — it's a strategic anchor in the global liberal order. One of the Liberal government's early priorities is likely to consolidate and strengthen CETA. In doing so, Canada can position itself as an ambitious partner, ready to seize new opportunities as European countries seek to reduce their reliance on the American market. Climate and energy: A balanced agenda Climate and energy, too, offer new opportunities for co-operation. Both Canada and the EU are navigating the tensions between pursuing ambitious decarbonisation goals and managing economic and inflationary pressures. After scrapping Canada's carbon tax on his first day in office, Mr Carney has already hinted at a more pragmatic environmental stance. While pledging to maintain key climate policies – including the emissions cap on oil and gas – Mr Carney's government may recalibrate Canada's approach to energy. This would mirror shifts among some European allies' climate policies. This evolving transatlantic consensus – less about abandoning climate goals, more about making them economically viable – paves the way for closer co-operation based on a common goal: bolstering economic competitiveness while maintaining environmental credibility. Both Mr Carney and the EU view the investment in new technologies as the path forward. As Europe accelerates its green agenda and implements new sustainability rules, only countries with strong environmental standards qualify as long-term partners. Canada, provided it stays the course on climate policies, is well-positioned to be a key partner in Europe's green transition. Transatlantic defence co-operation Beyond trade and energy, defence co-operation between Canada and the EU is expected to surge. A key priority for the new Liberal government is to finally reach NATO's benchmark of spending two per cent of gross domestic product on defence, a longstanding commitment that has eluded previous administrations. This signal of rearmament reflects not only alignment with NATO expectations but also a broader understanding that liberal democracies must be prepared to defend themselves. Nowhere is this more pressing than in Ukraine, the epicentre of Europe's geopolitical storm. Canada has been among the most reliable supporters of Ukraine since the onset of Russia's full-scale invasion, aligning itself with Europe's most committed nations – France, Poland, the Baltics and, increasingly, Germany. But as threats evolve, the battlefield also extends beyond Ukraine's frontlines. Hybrid attacks – cyber, disinformation campaigns and foreign interference in democratic processes – now wash up on all shores. Canada's National Cyber Threat Assessment 2025–26 identifies state-sponsored cyber operations as one of the most serious threats to democratic stability, particularly from Russia and China. In strengthening its defence collaboration, Ottawa is hoping to get a seat in the fight against autocracies. The question is no longer whether to engage, but how to lead in this era of layered and compounding threats coming from rivals like Russia and China, and now from the US, a historical Canadian ally. Under Carney's leadership, Canada is likely to pursue a pragmatic and globally engaged liberalism definitively aligned with Europe. As Canada and the EU are both looking for reliable allies to weather the storm, this renewed western alliance could solidify around Ottawa and Brussels – anchored in shared democratic values and pragmatic leadership.
Canada Standard
29-04-2025
- Business
- Canada Standard
What Liberal Mark Carney's Canadian projected election win means for Europe
Just months ago, Canada's Conservatives were leading the polls, surfing the wave of radical right ideas and rhetoric sweeping across the globe. But with the projected election victory of Mark Carney's Liberal Party, Canada now stands out as a liberal anchor in a fractured West. This election may not only shape Canada's domestic trajectory, but also carries significant implications for its international partnerships amid rising geopolitical uncertainty. As some European countries and the United States head towards isolationism, authoritarianism and turn to the East - even flirting with Russia - Canada's continued Liberal leadership reinforces its position as a key ally for the European Union. Carney's centrist and pro-EU attitude provides stability and relief for Europeans. From defence to trade and climate, Canada and the EU share deep economic and strategic ties. With a Liberal government, these connections will strengthen, offering both sides what they need the most: a reliable, like-minded partner at a time of transatlantic unpredictability. What does Carney's victory mean specifically for the Canada-EU relationship? Carney's election offers new momentum for Canada-EU collaboration. His "blue liberalism" brings Canada ideologically closer to Europe's current leadership - from Emmanuel Macron's centrist France to the Christian Democratic Union-led coalition in Germany - providing fertile ground for pragmatic co-operation. Trade remains the foundation of the Canada-EU relationship, and both sides should aim to build on it. At the heart of this partnership is the Comprehensive Economic and Trade Agreement (CETA), which has increased EU-Canada trade by 65 per cent since 2017. European Council President Antonio Costa has called the deal a success story providing clear proof "trade agreements are clearly better than trade tariffs." As the U.S. speeds toward toward economic nationalism, CETA has become more than a commercial agreement - it's a strategic anchor in the global liberal order. One of the Liberal government's early priorities is likely to consolidate and strengthen CETA. In doing so, Canada can position itself as an ambitious partner, ready to seize new opportunities as European countries seek to reduce their reliance on the American market. Climate and energy, too, offer new opportunities for co-operation. Both Canada and the EU are navigating the tensions between pursuing ambitious decarbonization goals and managing economic and inflationary pressures. After scrapping Canada's carbon tax on his first day in office, Carney has already hinted at a more pragmatic environmental stance. While pledging to maintain key climate policies - including the emissions cap on oil and gas - Carney's government may recalibrate Canada's approach to energy. This would mirror shifts among some European allies' climate policies. This evolving transatlantic consensus - less about abandoning climate goals, more about making them economically viable - paves the way for closer co-operation based on a common goal: bolstering economic competitiveness while maintaining environmental credibility. Both Carney and the EU view the investment in new technologies as the path forward. As Europe accelerates its green agenda and implements new sustainability rules, only countries with strong environmental standards qualify as long-term partners. Canada, provided it stays the course on climate policies, is well-positioned to be a key partner in Europe's green transition. Beyond trade and energy, defence co-operation between Canada and the EU is expected to surge. A key priority for the new Liberal government is to finally reach NATO's benchmark of spending two per cent of gross domestic product on defence, a longstanding commitment that has eluded previous administrations. Read more: What does Donald Trump's NATO posturing mean for Canada? This signal of rearmament reflects not only alignment with NATO expectations but also a broader understanding that liberal democracies must be prepared to defend themselves. Nowhere is this more pressing than in Ukraine, the epicentre of Europe's geopolitical storm. Canada has been among the most reliable supporters of Ukraine since the onset of Russia's full-scale invasion, aligning itself with Europe's most committed nations - France, Poland, the Baltics and, increasingly, Germany. But as threats evolve, the battlefield also extends beyond Ukraine's frontlines. Hybrid attacks - cyber, disinformation campaigns and foreign interference in democratic processes - now wash up on all shores. Canada's National Cyber Threat Assessment 2025-26 identifies state-sponsored cyber operations as one of the most serious threats to democratic stability, particularly from Russia and China. Read more: Foreign interference threats in Canada's federal election are both old and new In strengthening its defence collaboration, Ottawa is hoping to get a seat in the fight against autocracies. The question is no longer whether to engage, but how to lead in this era of layered and compounding threats coming from rivals like Russia and China - and now from the U.S., a historical Canadian ally. Under Carney's leadership, Canada is likely to pursue a pragmatic and globally engaged liberalism definitively aligned with Europe. As Canada and the EU are both looking for reliable allies to weather the storm, this renewed western alliance could solidify around Ottawa and Brussels - anchored in shared democratic values and pragmatic leadership.
Jordan Times
15-03-2025
- Business
- Jordan Times
New PM Carney says Canada will never be part of US
New Canadian Prime Minister Mark Carney addresses the media after being sworn in at Rideau Hall on March 14, 2025 in Ottawa, Ontario, Canada (AFP Photo) OTTAWA — Canada's new Prime Minister Mark Carney on Friday launched his term in office with a whole-hearted rejection of US President Donald Trump's repeated threats to annex his northern neighbor. Shortly after he was sworn in as Canada's 24th prime minister, replacing Justin Trudeau who has been in office since 2015, Carney said confronting Trump's tariffs would be a top priority. Canada "will never, ever, in any way, shape or form, be part of the United States," he added, while voicing hope his government could one-day work together with Washington to advance both countries' interests. Officials said they were looking to set up a call between Trump and Carney in the coming days. Ottawa has been rattled by collapsing cross-border relations since Trump returned to power in January, launching a trade war and demanding that Canada surrender its independence to become the 51st US state. Ottawa has retaliated against Trump's tariffs, while Canadian public opinion has been outraged as the US president insists the border separating the countries should be erased. Carney has characterized the Trump administration as the greatest challenge Canada has faced in a generation, and US tariffs on Canadian goods unjustified. He became prime minister after overwhelmingly winning a Liberal Party vote to replace Trudeau as leader. But the former central banker, who turns 60 on Sunday, is a political novice who has never won an elected public office. Carney's campaign skills may be tested soon with government sources telling AFP that Canada is headed for a general election in weeks. He said he will fly to Paris and London next week, part of an effort to reinforce Canada's alliances overseas as ties with the United States unravel. Those talks will include trade and security. German Chancellor Olaf Scholz and European Union chief Ursula von der Leyen -- who said Canada-EU relations were now "more crucial than ever" -- as well as Ukrainian President Volodymyr Zelensky were among the first foreign leaders to congratulate Carney on Friday. Election upcoming Carney was an investment banker at Goldman Sachs before serving as governor of the Bank of Canada during the 2008-2009 financial crisis and also led the Bank of England through the turmoil surrounding the Brexit vote. He has sought to present himself as purpose-built to lead a country through a trade war with the United States, once Canada's closest ally but now a country that Carney says Canada can "no longer trust." But he may not be prime minister for long. Polls ahead of the upcoming vote show a tight race against the opposition Conservatives, who have sought to portray Carney as an elitist and out of touch with the struggles of ordinary Canadians. He has countered that his global experience, including in the private sector, has equipped him to drive the Canadian economy forward as it faces a rupture with its most important trading partner. "Carney is arriving at a good time. He has emerged as a figure people seem to trust to take on Donald Trump," University of Winnipeg politics professor Felix Mathieu told AFP. On the week Trump's sweeping 25 percent tariffs on all steel and aluminum imports came into force, Carney visited a steel plant in Hamilton, an industrial city near the US border in the province of Ontario. Wearing a hard hat and goggles, Carney said he was ready to work out a trade deal with Trump. But he insisted there must be "respect for Canadian sovereignty" in any negotiation. Carney has also made clear efforts to distance himself from Trudeau with moves aimed at attracting more centrist voters. He has said addressing climate change will be a top priority but his first action on Friday was to sign an order scrapping Trudeau's "divisive" carbon tax on individuals and families while pledging to advance market-led solutions. The cabinet sworn in alongside Carney keeps much of Trudeau's team in place, including those working most closely on trade talks with the United States.
