China, Canada ink deal to deepen economic ties for 'transparent and predictable' investment

Canada and China have signed a deal that will further deepen their economic ties in a move that has taken place as there have been ongoing tariff disputes between the Mark Carney and Trump administrations.

Over the course of two days in Vancouver, Finance Minister François-Philippe Champagne and International Trade Minister Maninder Sidhu hosted He Lifeng, the vice premier of China. After the meeting, Finance Canada released a statement with China saying that the two countries will "enhance financial sector co-operation."

"The Dialogue builds on the commitments made by their Leaders in January 2026, and achieved a series of mutually beneficial outcomes, which will strengthen bilateral economic and financial cooperation, and advance the Canada–China new Strategic Partnership," the statement said.

Both sides "exchanged views on the global economic outlook as well as macroeconomic situations and policies in their respective countries," the joint statement added.

They will deepen their cooperation with financial institutions and that will include granting market access for financial services as well as regulatory authorities in the respective countries.

China and Canada reaffirmed that they continue their "support for multilateralism and a transparent and predictable environment for trade and investment."

The deal comes as Carney is set to visit China for the Asia-Pacific Economic Cooperation forum later in the week. The agreement comes as Canada is trying to diversify its trade relationship with the US.

Carney claimed to comments to the press that the security concerns with China are "much, much, much, much less than the security risks, for example, of the United States."

Trump has said that a deal with Canada regarding trade is close, but that there is still tension between the two countries. Trump recently held a summit with Xi Jinping.