BIG: The EU and Canada are working on a broad new partnership covering trade, defense, security, space, scientific research, supply chains and critical minerals, as both seek to reduce their dependence on the US and China.

The two sides reportedly want to move as close as legally possible without Canada becoming an EU member.

European Commission President Ursula von der Leyen is expected to unveil the initiative on September 16, with Carney addressing the European Parliament the following day.

Source: Bloomberg