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Canada Accelerates Mercosur Trade Talks While Diversifying Economic Partnerships
Canada Accelerates Mercosur Trade Talks While Diversifying Economic Partnerships
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BTCCSquare news:
Canada is intensifying negotiations with the Mercosur bloc—comprising Brazil, Argentina, Paraguay, and Uruguay—as part of a broader strategy to reduce reliance on U.S. trade. Trade Minister Sidhu confirmed serious interest from Brazil's government, though no deal has been finalized. Simultaneously, Ottawa aims to conclude tariff reductions with the U.S. by August 1.
The push for diversification comes as bilateral trade with the U.S. surpassed C$1 trillion last year. Canada is actively pursuing additional trade agreements across global markets, with 15 existing pacts spanning 51 economies. Sidhu highlighted ongoing dialogues with China and India, citing progress on agricultural exports and warming diplomatic ties.
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