Canadian Prime Minister Mark Carney stated Sunday that the nation's strong economic ties to the United States, once a significant advantage, have now become a "weakness that we must correct." In a video address, Carney outlined his government's strategy to bolster the Canadian economy by diversifying trade relationships and attracting new investments.
Carney cited the "dangerous and divided" global landscape and changes in U.S. trade policy, including increased tariffs, as directly impacting Canadian workers, particularly in the auto and steel sectors. He noted that businesses are hesitant to invest due to prevailing "uncertainty."
He emphasized the need for Canada to reduce its reliance on a single foreign partner, stating, "We have to take care of ourselves because we can't rely on one foreign partner." Carney dismissed the strategy of simply hoping for a return to previous U.S. trade relations, asserting, "Hope isn't a plan and nostalgia is not a strategy."
The Prime Minister detailed plans to attract investment, expand clean energy capacity, and reduce internal trade barriers. He also highlighted increased defense spending, tax reductions, and efforts to improve housing affordability. Carney concluded, "The U.S. has changed and we must respond. It's about taking back control of our security, our borders and our future."