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A lot of things could happen. Maybe Unicorns will be discovered in the wild tomorrow, which would be about as likely as this happening.
Could, but should not. It would be against everyone’s best interest.
Very unlikely and speculative that EU should hang Canada out to dry. If aluminum should be a huge problem, it will be regulated to not be too disruptive.
Canada and EU already have a trade agreement, with both Canada and EU facing unstable American policies and market, both have an interest in closer relations.