Canada eyes Mercosur trade pact to reduce U.S. reliance, minister says

From CTV News

Canada’s international trade minister says that there was interest from both sides to advance trade talks with South American bloc Mercosur, as Ottawa seeks new deals in a push to diversify from the U.S.

Prime Minister Mark Carney and his team have been locked in talks with U.S. President Donald Trump to hash out a trade deal by August 1, which could help reduce tariffs on Canada.

But his government is also preparing to rely less on a relationship that generated bilateral trade of over $1 trillion (US$727.33 billion) last year and to focus on diversifying trade by signing free trade pacts globally.