Canada wants to close a trade deal with Mercosur this year in a bid to diversify away from the United States, its foreign minister said while visiting Brazil on Tuesday.<\/p>\n
After a years-long freeze in talks between Canada and the South American bloc, Washington\u2019s tariff offensive pushed both parties back to the table in 2025.<\/p>\n
As Canada navigates an increasingly tricky relationship with its US neighbor, Foreign Minister Anita Anand said her country was looking to conclude an agreement with Mercosur by the end of the year.<\/p>\n
\u201cWe have agreed to intensify FTA negotiations with the objective of concluding negotiations…ideally before the end of 2026,\u201d she said after meeting her Brazilian counterpart Mauro Vieira in Sao Paulo.<\/p>\n
\u201cWe\u2019re going to double non\u2011US trade agreements in the coming decades,\u201d the minister said.<\/p>\n
Brazil is leading talks on behalf of Mercosur, of which Argentina, Paraguay, Uruguay and Bolivia are also members.<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/07\/CO6FVUZDP5QRMQUYNCKLMZPTTE.jpg\")
Representatives approve the EU\u2013Mercosur agreement through electronic voting at Congress in Montevideo, Uruguay, Thursday, Feb. 26, 2026. (AP Photo\/Matilde Campodonico) Representatives approve the EU\u2013Mercosur agreement through electronic voting at Congress in Montevideo, Uruguay, Thursday, Feb. 26, 2026. (AP Photo\/Matilde Campodonico) <\/p>\n
\u201cWe\u2019ve already had six rounds of negotiations that are moving along very well,\u201d said Vieira, adding that \u201cthere are still some details to be worked out.\u201d<\/p>\n
Anand acknowledged concerns in Canada about a potential deal\u2019s impact on domestic farming.<\/p>\n
After over a quarter-century of on-off talks, Mercosur and the European Union struck a deal in January, with fierce resistance from European farmers having stalled the process.<\/p>\n
This cohort fears being undercut by cheaper goods from agricultural powerhouse Brazil and its neighbors.<\/p>\n
The EU must still ratify the deal, which provisionally came into effect in May.<\/p>\n
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