I think the biggest concern for Canada and the EU is that the US and China will work together on a joint "AI non-proliferation" agreement much the same way that nuclear weapons came to be restricted by the countries that already had the capability. This will lead to a de facto "techno-colonization" of the rest of the world between themselves.
Trump and Xi are reportedly discussing this concept in their upcoming summit.
Trump and Xi are reportedly discussing this concept in their upcoming summit.