Canada, Germany working on diversifying trade in face of U.S. threats #NewsGerman

OTTAWA — Canadian companies and diplomats are working with their European colleagues to find ways to diversify trade as the U.S. threatens to impose steep tariffs.

“We want to be part of the solution, in terms of creating new business opportunities and diversifying trade,” said Tjorven Bellmann, Germany’s ambassador to Canada.

She was speaking at a press briefing Wednesday ahead of the Hannover Messe, the world’s largest trade fair. It’s an annual event in Germany and Canada is this year’s partner country.

“It’s a truly timely opportunity, given the geopolitical circumstances and all the discussion here in the country about the need to diversify trade,” Bellmann said.

She said she’s one of the European ambassadors in Ottawa who have talking with each other and with corporations, researchers and government officials on both sides of the Atlantic about ways to boost trade.

Bellmann said there’s a lot of interest in capitalizing on a trade deal that Canada and the European Union signed in 2017 – the Comprehensive Economic and Trade Agreement, known as CETA.

“I’m asking the question to interlocutors throughout Canada that I meet with – how can we make CETA even more operational?” she said.

“Both sides have work to do on identifying opportunities.”

She said Canadian universities are playing a large role in increasing trade as both countries look to move forward in fields like green energy and quantum computing.

Liberal MP Ryan Turnbull said Canada is looking to Europe as a counterbalance as U.S. President Donald Trump threatens to impose damaging tariffs on Canada and its European partners.

“The rise of protectionism and (the) economic uncertainty that brings us, it’s shaken us up,” said Turnbull, who is parliamentary secretary to the industry minister.

“The geopolitical tensions that we currently experience, I think, make this timely in terms of an opportunity for Canada to seize strengthening a diverse set of relationships that will make us more resilient in the future.”

Bellmann said the Hannover Messe trade show brings together about 130,000 in-person attendees, such as engineers and CEOs, along with 4,000 exhibitors from 156 countries.

During a 2022 visit to Newfoundland to sign a deal to import Canadian hydrogen, German Chancellor Olaf Scholz announced that Canada would take centre stage at this year’s event.

Since then, Industry Canada has been doing briefings with Canadian corporations and possible partners on multiple continents to lay the groundwork for deals to be signed at Hannover Messe.

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