It was announced Tuesday that Canada had narrowed the list of contenders to build the navy's new submarines to two bidders — TKMS and South Korea's Hanwha Ocean Ltd.

The prime minister met German Chancellor Friedrich Merz and is slated to participate in a business roundtable with the goal of diversifying Canada's trade and coming up with a critical minerals partnership.

However, as with many elements of his European trip this week, defence and security issues are near the top of Carney's agenda.

The prime minister will tour the TKMS shipyard Tuesday afternoon.