Canadian Finance Minister François-Philippe Champagne has called for the United Kingdom to form a closer economic partnership with Canada and the European Union, arguing that the three nations share similar values and are "stronger together". This proposal follows European Commission President Ursula von der Leyen's recent suggestion that Canada join the EU as an "associate member"—a new status that does not currently exist under EU treaties. The initiative reflects Canada's efforts to diversify its economic relationships as tensions with the United States have escalated under President Donald Trump.

The Canadian government has expressed interest in deeper cooperation with the EU and UK in defence, trade, financial services, energy and artificial intelligence, whilst ruling out full EU membership. The diversification strategy responds to strained US-Canada relations, including Trump's threats to annex Canada, the imposition of substantial tariffs on Canadian goods, and his order to rename Lake Ontario as "Lake America". Canada's leadership has vowed to double its non-US trade within the next decade to reduce dependence on the American market, and emphasised that the new partnerships are not formed against any other nation.