Carney leaves the G7 with $5bn in minerals deals and a hot-mic on Chinese EVs
Canada's PM banks 13 critical-minerals partnerships and a France intelligence pact, while caught reassuring Trump over Chinese EV imports
Summary
At the 15–17 June 2026 Évian G7, Mark Carney secured 13 critical-minerals partnerships across eight-plus countries worth over $5bn in capital — graphite (Eni, Québec), rare earths (Schneider Electric and Sumitomo), silica, phosphate and lithium — plus a stockpiling pact with France, Germany, Italy and Korea. Canada concluded a security-of-information agreement (GSOIA) with Germany, launched one with India, and deepened a France defence/AI intelligence pact. A hot mic caught Carney reassuring Donald Trump that Chinese EVs admitted under Canada's lowered tariff are "less than three per cent" of its market — 49,000 cars. Carney's framing: "the new world order will be built starting with Europe," a middle-power hedge against US trade pressure and the stalled Trump declines to renew USMCA, triggering a decade of annual reviews.
The split
Canadian coverage (CBC, Policy) reads the trip as deliberate diversification — minerals and defence ties to Europe and the Indo-Pacific to cut US dependence, with the China-EV deal a "code red" gamble. US progressive voices (CAP) spin it as proof Trump's tariff wall backfired, pushing an ally toward Beijing. Business framing (Fortune) elevates Carney's "Europe-first" new-order thesis. The hot-mic moment exposes the gap between public unity and the live US–Canada trade quarrel.
By the numbers
- 13 — new critical-minerals partnerships announced at Évian.
- $5bn+ — capital investment the PMO attaches to them.
- 8+ — partner countries involved.
- 49,000 — Chinese EVs Canada admits annually at the 6.1% tariff (vs prior 100%).
- ~3% — share of Canada's car market those EVs represent, per Carney.
- 4 — countries (France, Germany, Italy, Korea) in the minerals-stockpiling pact.
Why it matters
Carney is converting summit access into supply-chain leverage, binding Canadian minerals and defence industry to Europe and Asia precisely as Washington wields tariffs. It is a concrete test of whether a "middle power" can route around US economic coercion — and the China-EV opening shows the cost is friction with its largest trading partner.
What to watch
- Whether the 13 minerals partnerships convert into financed, built projects.
- US retaliation over Canada's Chinese-EV admission and canola deal with Beijing.
- Progress on the Canada–India CEPA and GSOIA talks.
- USMCA review fallout and any new US tariffs on Canadian autos.