This is great news for Canadians, meaning they'll be free from dragnet surveilance, as the five eyes monitoring system relies on other countries to spy on their citizens for them as a legal loophole.
Way to go trump, keep going, dismantle the five eyes entirely.
Don't make the mistake to think that reliance on China is not a security threat. It might not impact privacy, but at least from what I heard here, big network operators are unable to maintain their networks without support from the hardware vendors, and not just in the sense that they need updates, patches etc, but that the OEMs rather do everything and the providers just slap their label on it.
They're not spying on their own citizens, that would be illegal. They're simply allowing other countries to spy on you (legal) and then they "share" data with each other.
The net result is every FVEY agency doing an end run around laws that exist to prevent government intelligence from spying on its own citizens.
Add in data brokers who buy all your data stolen by Facebook and Google and re-package it for sale and Big Brother can have all of the data that they would get from spying on you without being bothered by silly laws that prevent them from spying on you (they didn't, the UK did).
Something tells me that an intelligence community alliance between the U.S., the U.K., and three former United Kingdom colonies could well do without the United States, just sayin'.