financetom
Business
financetom
/
Business
/
Canada seeks pact with Southeast Asian countries to diversify trade  
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Canada seeks pact with Southeast Asian countries to diversify trade  
Jul 10, 2025 3:09 AM

KUALA LUMPUR (Reuters) -Canada is seeking to finalise a free trade deal with Southeast Asian nations as part of a push to expand into new markets, its top diplomat said, responding to the hefty tariffs imposed on it by the United States, its neighbour and largest trade partner. 

Foreign Minister Anita Anand said Canada intends to continue a mutilateral trade relationship with the 10-member Association of Southeast Asian Nations. Canada believes the global economy will be driven by the Indo-Pacific region in the years ahead, she added.  

"The work is being done with alacrity to finalise the text of the free trade agreement," Anand told Reuters in an interview, following her meeting with counterparts from the ASEAN bloc in the Malaysian capital. 

"It is complex but we are very much looking forward to it being completed as soon as possible," she said, without providing further details.  

Anand said the ASEAN-Canada FTA is one of the ways Canada can diversify its trade relations beyond the Group of Seven nations. 

Beyond trade, Canada will also work with ASEAN on energy, food security, digital economy and artificial intelligence, she added.

Canadian companies are boosting trade with allies other than the United States, and with smaller markets, as they try to minimise the economic damage from President Donald Trump's tariffs, government data has shown.

Canada, the top supplier of steel and aluminum to the United States, faces tariffs imposed by Trump on both metals and on auto exports.

The government is hoping to reach a trade deal with Washington by July 21 and could impose counter-duties on the United States if no agreement is reached.  

Anand declined to comment on how the talks are progressing, but said Canada was looking forward to a constructive deal with the United States.  

"Our trade negotiators... are engaged in the complex trade negotiations to ensure that Canada's interests are put forward in the best possible way," she said.      

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
ZIM Integrated Shipping Stock Climbed 15% On Monday: What Happened?
ZIM Integrated Shipping Stock Climbed 15% On Monday: What Happened?
Aug 11, 2025
ZIM Integrated Shipping Services Ltd. ( ZIM ) shares traded higher on Monday after reports emerged that CEO Eli Glickman and a group of executives are pursuing a bid to take the company private. What To Know: Israeli business outlet Calcalist reported that Glickman, five other executives and businessman Rami Ungar are seeking to acquire the Israel-based shipping company in...
Titanium Transportation Q2 revenue beats estimates
Titanium Transportation Q2 revenue beats estimates
Aug 11, 2025
Overview * Titanium Transportation Q2 2025 revenue grows 3.5% yr/yr, beating analyst expectations * Logistics segment revenue up 16.8%, driven by 19% increase in US volume * Co, which offers asset-based trucking services and non-asset-based freight brokerage services, reduced debt by $10.1 mln Outlook * Titanium estimates next-quarter revenue of C$115 mln to C$120 mln * Company expects next-quarter EBITDA...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Ralliant Q2 Earnings, Sales Decline; Q3 Outlook Set
Ralliant Q2 Earnings, Sales Decline; Q3 Outlook Set
Aug 11, 2025
05:46 PM EDT, 08/11/2025 (MT Newswires) -- Ralliant ( RAL ) reported Q2 earnings late Monday of $0.42 per diluted share, down from $0.57 a year earlier. Analysts surveyed by FactSet expected $0.56 per share. Sales for the quarter ended June 27 were $503.3 million, down from $533.7 million a year earlier. Analysts polled by FactSet expected $501.6 million. The...
Copyright 2023-2026 - www.financetom.com All Rights Reserved