Recently, the US has threatened to impose new tariffs on Germany, France, and other countries that expand cooperation with China, pushing global economies to rebuild their trading partnerships. Donald Trump also mentioned a potential 100% tariff on Bombardier products, impacting a leading Canadian company.
Continued US pressure on trading partners and restrictions to the American market have led Europe, Canada, and the UK to seek alternatives. Canadian Prime Minister Mark Carney called the current situation a "rupture" at the Davos forum, highlighting the decline in the role of the dollar in global trade and the need for new balances.
The UK became the first nation in a decade whose leader visited Beijing. Pharmaceutical giant AstraZeneca announced plans to invest $15 billion into China's economy. Meanwhile, Canada has reduced tariffs to 6% on electric cars and is working to strengthen ties with China to reduce reliance on US trade.
The EU is negotiating free trade deals with India and South American nations, including Brazil, Uruguay, and Argentina, to offset losses from reduced trade with the US. Experts believe this could make Europe the world's largest trading platform.
Strategic sectors such as technology and defense are also transforming. Europe strives for autonomy, reinforcing institutions and its position as a potential major trading and investment center, moving away from exclusive dependence on the US.