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Canada-EU economic ties
Canada and the European Union launched the “Future Alliance” at the Montreal summit to strengthen trade, technology and security cooperation, diversify markets and energy sources, and reduce reliance on the United States—without severing economic ties with it. Trade in goods and services between the two sides reached about €130 billion ($145.24 billion) in 2025, up more than 80% from 2016. They also agreed to explore increasing Canadian liquefied natural gas exports and to cooperate on critical minerals and digital trade. The two sides aim to set a framework for closer relations by the 2027 summit, but associate membership remains undecided. The alliance’s results will depend on turning initiatives into actionable agreements and investments.
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