National Bank of Canada’s (NBC) Angelo Katsoras argues that Canada’s push to diversify exports away from the United States (US) toward the European Union (EU) faces growing obstacles as EU industrial policy turns more protectionist. He highlights that EU procurement rules, subsidies, tariffs and local content requirements increasingly favour European manufacturing, forcing Canadian firms to consider local production in Europe despite CETA’s tariff benefits.
EU rules complicate Canada’s exports
“The fact that the EU is increasingly using procurement rules, subsidies, tariffs and local content requirements to encourage more manufacturing within…
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