Sponsored by Cardiol Therapeutics

Carney Pushes EU–CPTPP Alliance

Prime Minister Mark Carney is spearheading discussions to build a bridge between Europe and the Indo-Pacific, aiming to link two major trade blocs through an agreement focused on rules of origin and supply-chain integration.

The EU and a 12-nation member CPTPP are opening talks to explore forming one of the largest global economic alliances, with multiple people familiar with the talks describing Canada as the lead champion of the effort.

Carney framed the initiative at the World Economic Forum last month, telling leaders Ottawa is “championing efforts” to connect the CPTPP and the EU in a new trading bloc of “1.5 billion people.”

You can read more on the matter here.

What’s going on?

• White House Pressed Australian Miner to Sell Congo Lithium Claim to US Firm (theDeepDive)

• Canadians now spending $1 billion per year to cover health-care costs of refugee claimants (NP)

• Iran Launches Live Fire Drill Across Hormuz As Nuclear Talks Open (theDeepDive)

• Canada’s annual inflation rate edges down in January as gasoline costs drop (Globe)

• EU Revives Decade-Old Push to Channel European Savings Into Capital Markets (theDeepDive)

• German population set to shrink 5% by 2050 (FT)

• Canada to Award 70% of Defence Contracts to Domestic Firms (theDeepDive)

• Iran partially closes Strait of Hormuz, a vital oil choke point, as Tehran holds talks with U.S. (CNBC)

• Europe Confirms Navalny Poisoning as Trump Administration Prepares Russia Talks (theDeepDive)

What’s the latest?

• Trade: Canada has launched its largest trade mission to Mexico in decades, with about 370 delegates seeking new partnerships and coordination ahead of the CUSMA review. Canada–Mexico merchandise trade has increased roughly twelvefold since NAFTA, and Mexico remains Canada’s second-largest export market. The mission prioritizes sectors such as advanced manufacturing, steel, agriculture, clean technology, and creative industries, amid ongoing U.S. tariff pressures. Business leaders emphasized stronger bilateral ties while expressing optimism that CUSMA will endure negotiations.

• Economy: Canada’s inflation rate edged down to 2.3% in January, below the 2.4% forecast, as gas prices fell 16.7% year over year and shelter inflation slowed to 1.7%, its first sub-2% reading in nearly five years. Food inflation remained elevated at 7.3%, driven partly by a 12.3% jump in restaurant prices due to base effects from last year’s tax holiday. Grocery prices rose 4.8%, easing slightly from December, while fresh fruit prices declined 3.1% month over month. The data provide the Bank of Canada an early read ahead of its March 18 rate decision.

• Markets: U.S. stocks were largely flat after the holiday weekend, with the S&P 500 near unchanged, the Dow up less than 0.1%, and the Nasdaq down 0.1%. General Mills fell 5.4% after cutting its 2026 profit outlook, while Genuine Parts dropped 10.9% on weak results and plans to split in 2027. Warner Bros. Discovery gained 2.8% amid buyout developments, helping offset modest Big Tech losses, and the 10-year Treasury yield held around 4.05%. European markets edged higher, while Japan’s Nikkei 225 slipped 0.4%.

• Tech: Artificial Intelligence Minister Evan Solomon is conducting a multi-country trip (Germany, Saudi Arabia, India) to attract investment and expand Canada’s tech alliances. Canada signed the Sovereign Technology Alliance with Germany to strengthen sovereign AI capacity and reduce technology dependencies, adding to prior AI agreements with the EU and U.K. Solomon emphasized market diversification amid tariff pressures and highlighted Canada’s AI position, noting Cohere and Canada’s status as one of four countries with a functioning large language model. Discussions abroad also reflected strong interest in Canada’s AI governance leadership, including work linked to Yoshua Bengio’s LawZero initiative.

• Politics: Canada is set to unveil a $6.6-billion Buy Canadian defence plan aimed at boosting domestic military production, increasing the share of contracts for Canadian firms, and supporting SMEs. The government projects up to 125,000 new jobs over the next decade as part of the strategy. The plan’s release follows prior delays and comes amid a NATO target to raise defence spending to 5% of GDP by 2035. Opposition leaders argue the proposal lacks concrete execution measures.

SSR Mining’s Hod Maden

The stock market and stuff

• Wheaton Precious Metals To Pay $4.3B For BHP Antamina Silver Stream (theDeepDive)

• Lundin Mining Projects $9.5 Billion NPV8% In Vicuña PEA (theDeepDive)

• Warner Bros. reopens takeover talks with Paramount after getting go-ahead from Netflix (Globe)

• Silver miners fall in premarket trading as the metal drops 2% (CNBC)

• Holtec IPO Poised At $10B, Could Be Nuclear’s Largest (theDeepDive)

• Barrick Surges on Mali Renewing Loulo Permit For 10 Years (theDeepDive)

In the juniors

• Critical Metals Proudly Announces the Highest Re-Assay TREO Results From Inception From (33) Drill Holes Results (JMN)

• What If Morocco Is the Next Big Mining Story? | Matt Lewis – Steadright Critical Minerals (theDeepDive)

• CanAlaska Uranium Begins Drill Program at Nebula Project (JMN)

FULL DISCLOSURE: Cardiol Therapeutics is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cardiol Therapeutics. The author has been compensated to cover Cardiol Therapeutics on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.