{"id":2150232,"date":"2026-09-17T06:00:02","date_gmt":"2026-09-17T03:00:02","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=2150232"},"modified":"2026-09-17T06:00:02","modified_gmt":"2026-09-17T03:00:02","slug":"the-canada-effect-which-european-companies-could-benefit-from-closer-ties","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=2150232","title":{"rendered":"The &#8216;Canada effect&#8217;: Which European companies could benefit from closer ties?"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/91\/63\/03\/1200x675_cmsv2_fc8106ec-41c1-56da-9a3a-b95cd132ad98-9916303.jpg&#8221;]<\/p>\n<article id=\"abe-2926602-pos1-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2926602\" data-cid=\"9917925\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926602-label-pos1-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/79\/10\/189x106_cmsv2_788f3713-ca7c-5a7f-bad1-71e7d34c8991-9917910.jpg\" loading=\"lazy\" alt=\"File photo dated Aug. 1, 2017: visitors queue to enter the Uffizi Gallery in Florence, Italy.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Culture news<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Cloudburst in Florence: rain pours into the Uffizi and historic Palazzo Pitti\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926555-pos2-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2926555\" data-cid=\"9917713\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926555-label-pos2-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/77\/13\/189x106_cmsv2_4c44ca5b-6b3d-5bd7-8175-cba994e67722-9917713.jpg\" loading=\"lazy\" alt=\"US President Donald Trump&apos;s senior adviser on Arab and Middle Eastern affairs Massad Boulos speaks to Euronews at the Arab Media Summit in Dubai, 17 September 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    United Arab Emirates<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Trump determined to end Iran war soon, senior adviser tells Euronews\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926541-pos3-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2926541\" data-cid=\"9917589\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926541-label-pos3-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/75\/89\/189x106_cmsv2_001382a6-0470-5f80-9c84-b5ef8b5f1dd6-9917589.jpg\" loading=\"lazy\" alt=\"A farmer drives a tractor and plough at Ireland&apos;s National Ploughing Championships\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    No Comment<\/p>\n<div class=\"the-media-object__title  \">\n<p>    From horse-drawn ploughs to autonomous tractors at Ireland\u2019s ploughing show\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926580-pos4-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2926580\" data-cid=\"9917826\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926580-label-pos4-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/78\/26\/189x106_cmsv2_fd624056-87a6-5298-8650-18ab241f96fc-9917826.jpg\" loading=\"lazy\" alt=\"Latest news bulletin | September 17th, 2026 \u2013 Evening\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Top News Stories Today<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Latest news bulletin | September 17th, 2026 \u2013 Evening\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926602-pos1-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2926602\" data-cid=\"9917925\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926602-label-pos1-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/79\/10\/189x106_cmsv2_788f3713-ca7c-5a7f-bad1-71e7d34c8991-9917910.jpg\" loading=\"lazy\" alt=\"File photo dated Aug. 1, 2017: visitors queue to enter the Uffizi Gallery in Florence, Italy.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Culture news<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Cloudburst in Florence: rain pours into the Uffizi and historic Palazzo Pitti\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926555-pos2-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2926555\" data-cid=\"9917713\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926555-label-pos2-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/77\/13\/189x106_cmsv2_4c44ca5b-6b3d-5bd7-8175-cba994e67722-9917713.jpg\" loading=\"lazy\" alt=\"US President Donald Trump&apos;s senior adviser on Arab and Middle Eastern affairs Massad Boulos speaks to Euronews at the Arab Media Summit in Dubai, 17 September 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    United Arab Emirates<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Trump determined to end Iran war soon, senior adviser tells Euronews\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926541-pos3-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video\" data-nid=\"2926541\" data-cid=\"9917589\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926541-label-pos3-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/75\/89\/189x106_cmsv2_001382a6-0470-5f80-9c84-b5ef8b5f1dd6-9917589.jpg\" loading=\"lazy\" alt=\"A farmer drives a tractor and plough at Ireland&apos;s National Ploughing Championships\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    No Comment<\/p>\n<div class=\"the-media-object__title  \">\n<p>    From horse-drawn ploughs to autonomous tractors at Ireland\u2019s ploughing show\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2926580-pos4-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video\" data-nid=\"2926580\" data-cid=\"9917826\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926580-label-pos4-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/78\/26\/189x106_cmsv2_fd624056-87a6-5298-8650-18ab241f96fc-9917826.jpg\" loading=\"lazy\" alt=\"Latest news bulletin | September 17th, 2026 \u2013 Evening\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Top News Stories Today<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Latest news bulletin | September 17th, 2026 \u2013 Evening\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article class=\"helper-site-row o-article-newsy\">\n<div class=\"helper-site-container o-article-newsy__container\">\n<div class=\"o-article-newsy__main\">\n<header class=\"h-grid o-article-newsy__main__header\">\n<nav aria-label=\"Breadcrumbs\" class=\"c-article-breadcrumbs\">\n<div id=\"adb-article-breadcrumb\" class=\"c-article-breadcrumbs__list\">\n<p>                          Business<\/p>\n<p>                          Business<\/p><\/div>\n<\/nav>\n<h1 class=\"c-article-redesign-title\">\n                            The &#8216;Canada effect&#8217;: Which European companies could benefit from closer ties?<\/h1>\n<div class=\"c-article-image-video u-position-relative \">\n<div class=\"js-superdiv u-aspect-ratio-16x9 u-position-relative \" data-controller=\"video-player\" data-sponsored=\"Partner content\"><img fetchpriority=\"high\" decoding=\"async\" class=\"js-poster-img c-article-media__img\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/63\/03\/1536x864_cmsv2_fc8106ec-41c1-56da-9a3a-b95cd132ad98-9916303.jpg\" width=\"1536\" height=\"864\" loading=\"eager\" alt=\"Canadian Prime Minister Mark Carney left, and European Commission President Ursula von der Leyen participate in a bilateral meeting, at the European Parliament in Strasbourg, \"><\/div>\n<div class=\"c-article-caption u-position-absolute\"><i id=\"article-caption-content\" class=\"c-article-caption__content\"><span class=\"c-article-caption__text\"><br \/>\n              Canadian Prime Minister Mark Carney left, and European Commission President Ursula von der Leyen participate in a bilateral meeting, at the European Parliament in Strasbourg,<br \/>\n                    <span class=\"u-color-white\">&#8211;\u00a0<\/span><span class=\"c-article-caption__copyright\">Copyright\u00a0<\/span><span class=\"c-article-caption__credit\">AP<\/span><\/span><\/i><\/div>\n<div class=\"c-article-image-copyright c-article-image-copyright--novideo\">\n      Copyright\u00a0AP\n  <\/div>\n<\/div>\n<\/header>\n<div class=\"h-grid o-article-newsy__main__body u-article-content\">\n<div class=\"o-article-newsy__contributors-publication-date\">\n<div class=\"c-article-contributors\">\n  By&amp;nbspPiero Cingari\n<\/div>\n<div class=\"c-article-publication-date\" data-timestamp=\"1789624802\">\n                    Published on                 <time datetime=\"2026-09-17 08:00:02 +02:00\">17\/09\/2026 &#8211; 8:00 GMT+2<\/time><span class=\"c-article-publication-date__bullet\">\u2022<\/span>Updated<br \/>\n                                     <time datetime=\"09:15\">9:15<\/time><\/div>\n<\/div>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div class=\"c-article-share-comment-popup-overlay js-c-article-share-comment-popup-overlay u-display-none\">\n<div id=\"js-c-article-share-comment-popup\" class=\"c-article-share-comment-popup js-c-article-share-comment-popup\">\n<div class=\"c-article-share-comment-popup__header u-display-flex\"><span>Share<\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/icon-close.svg\" width=\"24\" height=\"24\" alt=\"Close Button\" class=\"u-cursor-pointer js-c-article-share-comment-close\" loading=\"lazy\"><\/div>\n<div class=\"c-article-share-comment-popup__content u-display-flex\">\n<div 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loading=\"lazy\"><span>Bluesky<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"48\" height=\"48\" alt=\"bluesky\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"24\" height=\"24\" alt=\"threads\" loading=\"lazy\"><span>Threads<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"48\" height=\"48\" alt=\"threads\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"24\" height=\"24\" alt=\"whatsapp\" loading=\"lazy\"><span>Whatsapp<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"48\" height=\"48\" alt=\"whatsapp\" class=\"u-show-for-desktop\" loading=\"lazy\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"c-article-summary\">\n        The US trade war is pushing Canada towards Europe. Defence, aerospace and industrial technology are where European companies may gain first.<br \/>\n    <\/h2>\n<div class=\"c-article-content c-article-content--business js-article-content\">\n<p>The US-Canada trade war is pushing Ottawa closer to the European Union. For European companies, that shift is already creating opportunities in defence, aerospace and industrial technology.<\/p>\n<div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<p>Canadian Prime Minister Mark Carney got a standing ovation in Strasbourg on Wednesday, not something that happens often to a foreign prime minister in the European Parliament.<\/p>\n<p>European Commission President Ursula von der Leyen later gave that welcome a political meaning.<\/p>\n<p>\u201cI would like to work with you on opening the door for Canada to be the first associate member of the EU,\u201d she said during the annual State of the Union address.<\/p>\n<p>Von der Leyen described the broader relationship as an \u201cAlliance for the Future\u201d, covering defence, energy, technology, critical minerals and the Arctic.<\/p>\n<h2>What does an &#8220;associate member&#8221; mean?<\/h2>\n<p>There is no established \u201cassociate member\u201d category in the EU treaties and no template Canada can simply join.<\/p>\n<p>Creating one would require agreement among member states and complex legal negotiations. <\/p>\n<p>Ten, including France and Italy, have yet to ratify Comprehensive Economic and Trade Agreement (CETA) fully, almost a decade after the trade agreement between Canada and the European Union was signed.<\/p>\n<p>Carney has also said Canada is not seeking full EU membership. Ottawa instead wants a \u201cunique alliance\u201d that extends beyond a conventional free-trade deal.<\/p>\n<p>For now, the proposal is more political signal than legal blueprint. <\/p>\n<p>However, recent contracts show that the commercial relationship is already moving ahead.<\/p>\n<h2>EU\u2013Canada trade already has a head start<\/h2>\n<p>Trade in goods and services between the two sides has grown by more than 81% since 2016, the year before the CETA took provisional effect, reaching just over \u20ac130 billion in 2025, according to the Council of the EU.<\/p>\n<p>EU goods exports to Canada amounted to \u20ac48.9 billion. Services exports added another \u20ac29.4 billion.<\/p>\n<p>Germany shipped roughly \u20ac12 billion of goods to Canada last year. Italy followed at \u20ac6.3 billion, ahead of France at \u20ac4.4 billion.<\/p>\n<p>Machinery, chemicals, pharmaceuticals and transport equipment dominate European sales to Canada. <\/p>\n<p>European machinery sales to Canada hit a record \u20ac9.5 billion last year. Electrical equipment climbed from \u20ac2 billion in 2022 to \u20ac3.3 billion, and cars rose from \u20ac2.9 billion to \u20ac4.4 billion over the same period.<\/p>\n<p>Aerospace moved hardest of all. Sales of powered aircraft went from \u20ac449 million in 2022 to \u20ac1.2 billion last year.<\/p>\n<h2>European defence companies stand to gain<\/h2>\n<p>Defence provides the clearest evidence that Canada is looking beyond its traditional American suppliers.<\/p>\n<p>In July, Ottawa selected Germany&#8217;s TKMS AG &amp; Co. KGaA, the naval shipbuilder spun off from Thyssenkrupp AG last October, as preferred supplier for up to 12 new submarines. <\/p>\n<p>While the final contract has not been signed yet, the decision places a European company at the centre of one of Canada&#8217;s largest military procurement programmes.<\/p>\n<p>Sweden\u2019s Saab has also gained ground. Ottawa selected the company as its preferred supplier for six GlobalEye surveillance aircraft, ahead of alternatives from Boeing and L3Harris. <\/p>\n<p>The GlobalEye is built on business jets made by Canada&#8217;s Bombardier Inc. and Saab has offered to carry out much of the work in Canada, combining European sensors and mission systems with Canadian airframes.<\/p>\n<p>The aircraft use jets produced by Canada\u2019s Bombardier. Saab has offered to complete much of the work in Canada, combining European technology with Canadian manufacturing. <\/p>\n<p>Canada also became the first non-European country admitted to procurement under the EU&#8217;s SAFE defence programme in June. <\/p>\n<p>That gives Canadian manufacturers access to joint European purchasing, and it makes it easier for European defence groups to build supply chains that include Canadian firms.<\/p>\n<h2>Airbus and Siemens already have a strong foothold<\/h2>\n<p>The opportunity extends beyond military equipment. Air Canada has placed a firm order with Airbus for eight A350-1000 aircraft. <\/p>\n<p>The government has also contracted Airbus for four new A330 tankers plus five conversions, part of a C$3.6 billion (\u20ac2.2bn) programme whose first new-build aircraft flew in July. <\/p>\n<p>Ottawa has committed a further C$1.5 billion (\u20ac930mn) to keeping the fleet in the air.<\/p>\n<p>Germany\u2019s Siemens is investing C$150 million (\u20ac97 million) over five years in a Canadian research centre for AI-powered battery manufacturing.<\/p>\n<p>French groups Keolis, Systra and SNCF Voyageurs are also part of the Cadence consortium selected in 2025 to develop Alto, the planned high-speed railway between Toronto and Quebec City. Canada has allocated about \u20ac2.4 billion to the project\u2019s development phase.<\/p>\n<h2>Critical minerals could become the next opportunity<\/h2>\n<p>Canada\u2019s reserves of nickel, lithium, copper and other critical minerals offer another potential area of cooperation. <\/p>\n<p>Europe wants to reduce its dependence on concentrated and politically risky suppliers. <\/p>\n<p>Canada wants more investment, processing capacity and customers outside the United States. <\/p>\n<p>In March, the European Investment Bank and the Canadian government signed a letter of intent to explore financing for Canadian critical-minerals projects. <\/p>\n<p>The agreement does not yet contain financial commitments. <\/p>\n<p>However, it could eventually support European companies involved in mining technology, processing, recycling and battery production.<\/p>\n<h2>The price of deeper European access<\/h2>\n<p>CETA had eliminated 99% of tariff lines by 2024. A new alliance would therefore need to offer more than another reduction in customs duties.<\/p>\n<p>The next gains would probably come from government procurement, investment, digital trade, professional mobility and the mutual recognition of standards.<\/p>\n<p>Greater access could also require Canada to align some of its rules with the EU in the sectors covered by any future agreement.<\/p>\n<p>However, it is too early to assume that Canada would adopt European rules on everything from agriculture to data protection. That will depend on what \u201cassociate membership\u201d eventually means.<\/p>\n<p>Angelo Katsoras, a geopolitical analyst at National Bank of Canada, said in an August note that Brussels is \u201cincreasingly using procurement rules, subsidies, tariffs and local content requirements to encourage more manufacturing within Europe\u201d.<\/p>\n<p>That could create difficulties for Canadian companies trying to enter the European market.<\/p>\n<p>\u201cDiversifying trade beyond the United States to regions such as the EU will likely be more challenging than many people anticipate,\u201d Katsoras said.<\/p>\n<p>The same logic applies in the opposite direction. European companies are more likely to succeed in Canada when they invest locally rather than rely entirely on exports.<\/p>\n<h2>Can Europe replace the United States?<\/h2>\n<p>The short answer is no.<\/p>\n<p>The US absorbed 71.7% of Canadian merchandise exports in 2025. The EU, by comparison, represented 8.7% of Canada\u2019s total trade in goods.<\/p>\n<p>Canada cannot quickly replace the pipelines, railways, factories and cross-border supply chains built around its southern neighbour.<\/p>\n<p>The more realistic outcome is a gradual redistribution of investment and government contracts.<\/p>\n<p>Defence and rail can move first because governments choose the suppliers. Critical minerals, battery technology and energy infrastructure could follow as financing and supply chains develop.<\/p>\n<p>Canada\u2019s European pivot is therefore less an economic divorce from the United States than a decision to stop relying on a single partner.<\/p>\n<p>For European companies, the biggest winners will not necessarily be those exporting the most. <\/p>\n<p>They will be the groups prepared to turn European technology into Canadian production, investment and jobs.<\/p>\n<\/div>\n<p>                                  Go to accessibility shortcuts<\/p>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div id=\"adb-article-you-might-also-like\" class=\"perf-cv-auto c-article-you-might-also-like\">\n<h2 class=\"c-article-you-might-also-like__title\">\n        Read more<br \/>\n      <\/h2>\n<div class=\"c-article-you-might-also-like__container\">\n<article id=\"abe-2926410-pos0-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2926410\" data-cid=\"9916787\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926410-label-pos0-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/67\/87\/480x270_cmsv2_85e06a65-5b64-52c1-8f69-13be01d87c27-9916787.jpg\" loading=\"lazy\" alt=\"FILE. 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Screens display the news conference held by Federal Reserve chairman Kevin Warsh on the floor of the New York Stock Exchange, 16 Sept. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Markets<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    European stocks rise after Fed hike while dollar hits seven-week high<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926403-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2926403\" data-cid=\"9916780\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926403-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/67\/80\/480x270_cmsv2_860a3e1f-dc3d-56b7-8190-69f938c0e085-9916780.jpg\" loading=\"lazy\" alt=\"David McAllister, MEP (European People&apos;s Party)\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe Today<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Bringing EU and Canada closer is &#8216;not against any third country&#8217;, MEP<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926399-pos2-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2926399\" data-cid=\"9916763\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926399-label-pos2-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/67\/63\/480x270_cmsv2_ab92786b-8e2b-5b44-84c0-7b85752ff477-9916763.jpg\" loading=\"lazy\" alt=\"Mark Carney in Strasbourg.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Mark Carney&#8217;s speech in the EU Parliament as it happened<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926421-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2926421\" data-cid=\"9916858\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926421-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/68\/58\/320x180_cmsv2_e096d893-42f9-5f40-8c72-f79402ef3632-9916858.jpg\" loading=\"lazy\" alt=\"FILE. Bank of England (BoE) Governor Andrew Bailey speaks during the Monetary Policy Report press conference in London, 30 July 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Bank of England holds rates at 3.75% as inflation hits five-month high<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926410-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2926410\" data-cid=\"9916787\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926410-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/67\/87\/320x180_cmsv2_85e06a65-5b64-52c1-8f69-13be01d87c27-9916787.jpg\" loading=\"lazy\" alt=\"FILE. Screens display the news conference held by Federal Reserve chairman Kevin Warsh on the floor of the New York Stock Exchange, 16 Sept. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    European stocks rise after Fed hike while dollar hits seven-week high<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926155-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2926155\" data-cid=\"9915560\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926155-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/28\/80\/320x180_cmsv2_0bf7b55e-8c91-5272-8d47-2ec66454fd9e-9912880.jpg\" loading=\"lazy\" alt=\"FILE. Pages from the Anthropic website and the company&apos;s logo are displayed on a computer screen in New York, 26 Feb. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Anthropic priced above $2 trillion as markets eagerly await IPO filing<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926208-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2926208\" data-cid=\"9915784\" data-part-label=\"Partner content\">\n<figure id=\"abe-2926208-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/57\/84\/320x180_cmsv2_c3a2509a-0a84-5e85-b1f6-cb20cebf97e7-9915784.jpg\" loading=\"lazy\" alt=\"View more by Drone in Warsaw by Prokreacja.com from Getty Images\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Europe versus the US: The world\u2019s best cities in 2026 ranked<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2925906-pos6-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2925906\" data-cid=\"9916618\" data-part-label=\"Partner content\">\n<figure id=\"abe-2925906-label-pos6-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/91\/43\/64\/320x180_cmsv2_3283e536-a856-51aa-997b-5adfd8539762-9914364.jpg\" loading=\"lazy\" alt=\"Armin Papperger, CEO of arms manufacturer Rheinmetall\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Germany&#8217;s missile stockpiles &#8216;worryingly low&#8217;, Rheinmetall CEO says<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926250-pos1-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2926250\" data-cid=\"9916047\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    German AI start-up spends millions to move parent company from the US<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926273-pos2-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--no-label\" data-nid=\"2926273\" data-cid=\"9916192\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    France: TotalEnergies pumps up controversy with cut-price fuel<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926208-pos3-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2926208\" data-cid=\"9915784\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Europe versus the US: The world\u2019s best cities in 2026 ranked<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2926164-pos4-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2926164\" data-cid=\"9915594\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Fed hikes rates for the first time since 2023 in unanimous vote<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2919486-pos5-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2919486\" data-cid=\"9883992\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Dubai\u2019s competitive advantage for digital business<br \/>\n  <\/h3>\n<div class=\"the-media-object__quote\">Partner content presented by <strong>Dubai Chamber of Digital Economy<\/strong><\/div>\n<\/div>\n<\/article>\n<div class=\"articleBody\" data-key=\"articleBody\">The US-Canada trade war is pushing Ottawa closer to the European Union. For European companies, that shift is already creating opportunities in defence, aerospace and industrial technology.Canadian Prime Minister Mark Carney got a standing ovation in Strasbourg on Wednesday, not something that happens often to a foreign prime minister in the European Parliament.European Commission President Ursula von der Leyen later gave that welcome a political meaning.\u201cI would like to work with you on opening the door for Canada to be the first associate member of the EU,\u201d she said during the annual State of the Union address.Von der Leyen described the broader relationship as an \u201cAlliance for the Future\u201d, covering defence, energy, technology, critical minerals and the Arctic.What does an &#8220;associate member&#8221; mean?There is no established \u201cassociate member\u201d category in the EU treaties and no template Canada can simply join.Creating one would require agreement among member states and complex legal negotiations.Ten, including France and Italy, have yet to ratify Comprehensive Economic and Trade Agreement (CETA) fully, almost a decade after the trade agreement between Canada and the European Union was signed.Carney has also said Canada is not seeking full EU membership. Ottawa instead wants a \u201cunique alliance\u201d that extends beyond a conventional free-trade deal.For now, the proposal is more political signal than legal blueprint.However, recent contracts show that the commercial relationship is already moving ahead.EU\u2013Canada trade already has a head startTrade in goods and services between the two sides has grown by more than 81% since 2016, the year before the CETA took provisional effect, reaching just over \u20ac130 billion in 2025, according to the Council of the EU.EU goods exports to Canada amounted to \u20ac48.9 billion. Services exports added another \u20ac29.4 billion.Germany shipped roughly \u20ac12 billion of goods to Canada last year. Italy followed at \u20ac6.3 billion, ahead of France at \u20ac4.4 billion.Machinery, chemicals, pharmaceuticals and transport equipment dominate European sales to Canada.European machinery sales to Canada hit a record \u20ac9.5 billion last year. Electrical equipment climbed from \u20ac2 billion in 2022 to \u20ac3.3 billion, and cars rose from \u20ac2.9 billion to \u20ac4.4 billion over the same period.Aerospace moved hardest of all. Sales of powered aircraft went from \u20ac449 million in 2022 to \u20ac1.2 billion last year.European defence companies stand to gainDefence provides the clearest evidence that Canada is looking beyond its traditional American suppliers.In July, Ottawa selected Germany&#8217;s TKMS AG &amp; Co. KGaA, the naval shipbuilder spun off from Thyssenkrupp AG last October, as preferred supplier for up to 12 new submarines.While the final contract has not been signed yet, the decision places a European company at the centre of one of Canada&#8217;s largest military procurement programmes.Sweden\u2019s Saab has also gained ground. Ottawa selected the company as its preferred supplier for six GlobalEye surveillance aircraft, ahead of alternatives from Boeing and L3Harris.The GlobalEye is built on business jets made by Canada&#8217;s Bombardier Inc. and Saab has offered to carry out much of the work in Canada, combining European sensors and mission systems with Canadian airframes.The aircraft use jets produced by Canada\u2019s Bombardier. Saab has offered to complete much of the work in Canada, combining European technology with Canadian manufacturing.Canada also became the first non-European country admitted to procurement under the EU&#8217;s SAFE defence programme in June.That gives Canadian manufacturers access to joint European purchasing, and it makes it easier for European defence groups to build supply chains that include Canadian firms.Airbus and Siemens already have a strong footholdThe opportunity extends beyond military equipment. Air Canada has placed a firm order with Airbus for eight A350-1000 aircraft.The government has also contracted Airbus for four new A330 tankers plus five conversions, part of a C$3.6 billion (\u20ac2.2bn) programme whose first new-build aircraft flew in July.Ottawa has committed a further C$1.5 billion (\u20ac930mn) to keeping the fleet in the air.Germany\u2019s Siemens is investing C$150 million (\u20ac97 million) over five years in a Canadian research centre for AI-powered battery manufacturing.French groups Keolis, Systra and SNCF Voyageurs are also part of the Cadence consortium selected in 2025 to develop Alto, the planned high-speed railway between Toronto and Quebec City. Canada has allocated about \u20ac2.4 billion to the project\u2019s development phase.Critical minerals could become the next opportunityCanada\u2019s reserves of nickel, lithium, copper and other critical minerals offer another potential area of cooperation.Europe wants to reduce its dependence on concentrated and politically risky suppliers.Canada wants more investment, processing capacity and customers outside the United States.In March, the European Investment Bank and the Canadian government signed a letter of intent to explore financing for Canadian critical-minerals projects.The agreement does not yet contain financial commitments.However, it could eventually support European companies involved in mining technology, processing, recycling and battery production.The price of deeper European accessCETA had eliminated 99% of tariff lines by 2024. A new alliance would therefore need to offer more than another reduction in customs duties.The next gains would probably come from government procurement, investment, digital trade, professional mobility and the mutual recognition of standards.Greater access could also require Canada to align some of its rules with the EU in the sectors covered by any future agreement.However, it is too early to assume that Canada would adopt European rules on everything from agriculture to data protection. That will depend on what \u201cassociate membership\u201d eventually means.Angelo Katsoras, a geopolitical analyst at National Bank of Canada, said in an August note that Brussels is \u201cincreasingly using procurement rules, subsidies, tariffs and local content requirements to encourage more manufacturing within Europe\u201d.That could create difficulties for Canadian companies trying to enter the European market.\u201cDiversifying trade beyond the United States to regions such as the EU will likely be more challenging than many people anticipate,\u201d Katsoras said.The same logic applies in the opposite direction. European companies are more likely to succeed in Canada when they invest locally rather than rely entirely on exports.Can Europe replace the United States?The short answer is no.The US absorbed 71.7% of Canadian merchandise exports in 2025. The EU, by comparison, represented 8.7% of Canada\u2019s total trade in goods.Canada cannot quickly replace the pipelines, railways, factories and cross-border supply chains built around its southern neighbour.The more realistic outcome is a gradual redistribution of investment and government contracts.Defence and rail can move first because governments choose the suppliers. Critical minerals, battery technology and energy infrastructure could follow as financing and supply chains develop.Canada\u2019s European pivot is therefore less an economic divorce from the United States than a decision to stop relying on a single partner.For European companies, the biggest winners will not necessarily be those exporting the most.They will be the groups prepared to turn European technology into Canadian production, investment and jobs.<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.euronews.com\/business\/2026\/09\/17\/the-canada-effect-which-european-companies-could-benefit-from-closer-ties&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/91\/63\/03\/1200x675_cmsv2_fc8106ec-41c1-56da-9a3a-b95cd132ad98-9916303.jpg&#8221;] Culture news Cloudburst in Florence: rain pours into the Uffizi and historic Palazzo Pitti United Arab Emirates Trump determined to end Iran war soon, senior adviser tells Euronews No Comment From horse-drawn ploughs to autonomous tractors at Ireland\u2019s ploughing show Top News Stories Today Latest news bulletin | September 17th, 2026 \u2013 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[226,36],"class_list":["post-2150232","post","type-post","status-publish","format-standard","hentry","category-international","tag-crawlmanager","tag-euronews-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2150232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2150232"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2150232\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2150232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2150232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2150232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}