New transatlantic relations run through Ottawa; Canada invited to EU economic ministers’ meeting

Brussels – A new season in bilateral relations with Canada, an increasingly strategic partner in North America, where the EU is struggling to look toward Donald Trump’s United States. For this reason, the focus is on the Ottawa government, with an exceptional meeting between the EU’s economic ministers and the Canadian Finance Minister, François‑Philippe Champagne. This meeting is the highlight of the Eurogroup scheduled for next week in Brussels (16 February), and will be enriched by a post-session dinner attended not only by ministers from countries that use the single currency, but also by those that have not yet adopted the euro.

It was the president of the Eurogroup, the Greek Kyriakos Pierrakakis, who took the initiative and invited the Canadian minister, according to European sources. The reason is certainly not accidental and should be read in light of the new course in the United States. With the US no longer a reliable and predictable partner, Canada automatically becomes the European Union’s new reference point. Canada is a member of the G7, part of NATO, and in favour of free trade (the CETA agreement between the EU and Canada dates back to 2017 and is considered a success story). In short, the country “is a close ally,” the same sources confide. Such an emphasis indicates that today’s United States is probably not on the same level as Canada. 

The dialogue between Champagne, Pierrakakis, and the Europeans aims to “exchange views with a view to hopefully develop common commitments,” particularly in the economic and financial sphere, according to sources in Brussels. The working dinner is part of an inclusive Eurogroup meeting intended to discuss the international situation and the risks of instability that may arise from it. The aim is therefore to create a new transatlantic structure, with Canada as an alternative to the United States. 

Moreover, through the French-speaking province of Quebec, Canada has already begun to forge closer ties with the European Union. The cooperation agreement, signed by the Quebec government and the European Committee of the Regions (COR) at the end of 2025, is moving forward to strengthen bilateral cooperation on shared priorities, including climate action, the economy, and a stronger role for regions and cities in addressing global challenges.