Canadian officials and experts see opportunities to deepen economic relations with China despite mounting pressures from the United States, according to discussions held at a recent business roundtable in Vancouver. The event, titled the 2026 Canada-China Economic and Trade Roundtable, convened nearly 70 representatives from government, business, academia, and Indigenous communities on Thursday. It was hosted by the Canada China Chamber of Commerce with support from Bank of China (Canada).
Jiang Wernan, president of the Canada-China Energy and Environment Forum, described the bilateral relationship as having a solid cooperative framework. He emphasized the need to build on this foundation by expanding practical collaboration, particularly in sectors such as energy, agriculture, basic manufacturing, and seafood. Jiang also highlighted environmental technology as a promising area for future growth. Looking ahead, he pointed to emerging industries including artificial intelligence, the digital economy, critical minerals, and education as potential avenues for enhanced bilateral engagement.
The roundtable participants broadly agreed that Canada and China possess complementary economic strengths. Julian Karaguesian, an economics professor at McGill University, underscored that Ottawa’s interests do not always align with Washington’s approach to China. He argued that Canada should move beyond its traditional reliance on the U.S. market. “What may be good for the United States in terms of the containment policy may not be good for us,” Karaguesian said.
Karaguesian described Canada as a “natural resource superpower” while characterizing China as a “manufacturing superpower,” noting the significant potential for mutual investment and trade expansion. He suggested that Canada's trade volume with China could be up to three times larger if geopolitical tensions were less restrictive.
The discussion comes amidst ongoing trade tensions with the United States. On August 22, Washington imposed 50 percent tariffs on approximately $20 billion of Canadian goods, prompting Ottawa to impose equivalent tariffs on U.S. imports starting this week. Karaguesian emphasized that trade diversification should be viewed not merely as a strategy born from crisis but as a necessary adjustment to Canada’s economic relationships. “It shouldn’t be really from crisis to opportunity; it’s from crisis to necessity,” he said.
Lu Hai, a professor of accounting at the University of Toronto’s Rotman School of Management, pointed to green transition initiatives and evolving supply chain considerations as additional areas for closer cooperation between Canada and China. Lu noted that environmental criteria are increasingly factored alongside costs in supply chain assessments, highlighting the need to balance low emissions with economic efficiency.
Former Canadian finance minister Bill Morneau stressed the importance of ongoing dialogue and relationship-building as Canada navigates a more complex international economic landscape. “We deal with transition, which means there will be more need for you to have conversations building deeper relationships, critically important,” Morneau said.
Together, these perspectives suggest a shared recognition among Canadian stakeholders of the potential benefits of strengthening ties with China even as broader geopolitical challenges persist.