Takeaways by Bloomberg AI

• The European Union and Canada are working toward a new relationship that will range from trade to security, to offset the global power politics dominated by the US and China.
• The discussions are particularly focused on “strategic capabilities,” such as cooperation on defense, space exploration and scientific research, with Canada making a deeper EU partnership a top priority.
• The arrangements will aim to cover all areas of the relationship, including trade, security, supply chains and critical raw materials, with the goal of getting as close as legally possible to EU membership without actually joining.