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flag Canada explores free trade with South America's Mercosur bloc to diversify trade relations.

flag Canada is exploring a free trade agreement with South America's Mercosur bloc to diversify its trade relations, especially amid trade issues with the US. flag Mercosur, formed in 1991 and including countries like Argentina and Brazil, has seen the EU finalize trade negotiations, potentially giving the EU a competitive edge in South America. flag While negotiations between Canada and Mercosur began in 2018, some experts advise Canada to focus on expanding trade with Asia and Europe instead, due to similarities in exported goods and existing trade ties.

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