QUESTION PERIOD — International Trade
Trade Tariffs
September 28, 2026
Senator Moreau, I have been spending the last few weeks travelling and meeting stakeholders in the Canadian economy, particularly in my home province of Quebec, as well as in Ontario and British Columbia. There is a deep sense of fear and uncertainty about the tariff war that is going on between Canada and the United States. They have heard the Prime Minister’s and the government’s plan to try to become the twenty-eighth member state of the EU.
Just to be clear, we want to know this: Does the government believe that the EU has the capacity to make up for potential market losses to the Canadian economy that might occur because of this trade war with the United States?
Thank you for the question, Senator Housakos.
The government is actively pursuing a closer partnership with the European Union. As the Prime Minister said, Canada and Europe are not fair-weather allies; we hold common values, for which we have always fought, and in whose defence, we must always remain vigilant. Our cooperation is expanding across economic growth, security and defence, supply chain resilience and the green and digital transitions.
Canada will host the next EU-Canada summit on October 29 and 30, 2026, to advance shared priorities. To be clear, Canada is not seeking membership.
That’s a good start because the EU is only about 70% the size of the GDP of the American market. We know that the EU has been contracting over the last few years in terms of their economic capacity. We also know that, despite this trade war we have been having, the United States buys 200% more Canadian goods and services than all other global markets combined.
The government keeps talking about diversity. Where exactly will they make up for the market share that we are losing?
You are probably well aware, Senator Housakos, that we are not the ones who started the tariff war between Canada and the United States.
The Government of Canada has been clear. We are ready to resume negotiations with the United States when it respects Canada and is prepared to negotiate. It takes two to tango, and we are waiting for the United States to do that.
