• Canadian PM Mark Carney is ready to resume trade talks with US President Donald Trump.
• Trump has announced a 10% tariff increase on Canadian goods, citing a contentious Ontario political ad.
• Carney will meet Chinese President Xi Jinping at the upcoming APEC summit to discuss trade.
• The Canadian government aims to reduce reliance on the US market by seeking new trade agreements.
• Carney's comments were made during his first official visit to Asia amid strained US-Canada relations.

Canadian Prime Minister Mark Carney has expressed his willingness to resume trade discussions with US President Donald Trump, following the recent hike in tariffs on Canadian goods by 10%. Carney emphasized, "We stand ready to sit down with the United States, myself with the president, my colleagues with their colleagues, when the US is ready to sit down" during the ASEAN summit in Kuala Lumpur, highlighting his openness to dialogue despite existing tensions, according to Reuters, South China Morning Post, and Le Monde.

This lift in tariffs stems from a controversial political advertisement aired by Ontario's government that utilized quotes from former US President Ronald Reagan, leading Trump to label it a "fake" campaign. In response, he terminated ongoing trade discussions, emphasizing that such tariffs are a "hostile act," according to India Times and Channel News Asia.

Despite the heightened surveillance on US-Canada trade relations, Carney reaffirmed that he would reject any agreements that do not benefit Canadians. He stated that Canada is committed to initiating several new trade deals in the Indo-Pacific region, including a significant pact with the Philippines. This strategy aims to diversify Canadian trade away from the United States, amid evolving geopolitical dynamics, citing Reuters and South China Morning Post.

Carney is set to meet with Chinese President Xi Jinping at the upcoming APEC summit in South Korea to discuss strengthening their commercial relationship, which Carney noted is also crucial for the evolution of the global trading system. He acknowledged the considerable progress made in previous trade discussions prior to the recent setbacks with the US, according to India Times and Channel News Asia.