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Canada's PM calls economic ties with US a weakness that must be ...
VANCOUVER, British Columbia -- Canadian Prime Minister Mark Carney said in a video address released Sunday that Canada’s strong economic ties to the United States were once a strength but are now a weakness that must be corrected.In the 10-minute address, Carney spoke about his government’s efforts to strengthen the Canadian economy by attracting new investments and signing trade deals with other countries.“The world is more dangerous and divided,” Carney said. “The U.S. has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression.“Many of our former strengths, based on our close ties to America, have become weaknesses. Weaknesses that we must correct.”Carney said tariffs imposed by U.S. President Donald Trump have affected workers in the auto and steel industries. He added that businesses are holding back investments “restrained by the pall of uncertainty that’s hanging over all of us.”Many Canadians have also been angered by Trumps comments suggesting Canada become the 51st state.Carney said he plans to give Canadians regular updates on his government’s efforts to diversify away from the U.S.“Security can’t be achieved by ignoring the obvious or downplaying the very real threats that we Canadians face,” he said. “I promise you I will never sugarcoat our challenges.”It’s not the first time Carney, who served as a central bank governor, first at the Bank of Canada and later with the Bank of England, has spoken about a shift in world power.During a speech in January at the World Economic Forum in Davos, Switzerland, he received widespread praise for condemning economic coercion by great powers against small countries.His remarks brought a rebuke from Trump.Popular Reads“Canada lives because of the United States,” Trump said after the speech. “Remember that, Mark, the next time you make your statements.”Carney’s comments came days after securing a majority government following special election wins and as the opposition Conservatives push him to deliver a U.S. trade deal, which was among his promises in last year’s election.A review of the current version of the North American Free Trade Agreement between Canada, the U.S. and Mexico is scheduled for July.In his address, Carney said he wants to attract new investments into Canada, double the size of clean energy capacity and reduce trade barriers within the country. He also emphasized Canada’s increased defense spending, reduction in taxes and efforts to...
Canadian PM says close economic ties with US have become a 'weakness ...
Mark Carney says Canada must build economic ties with other countries amid its shifting relationship with the United States.Canadian Prime Minister Mark Carney has said that after decades of partnership with the United States, close economic ties between the two countries have become a “weakness” that must be corrected.Carney gave remarks on Canada’s relationship with the US in a 10-minute video on Sunday, in which he signalled that Canada must move away from excessive reliance on any one country.Recommended Stories list of 3 itemslist 1 of 3Carney vows focus on affordability after winning Canada’s special electionlist 2 of 3Facing a mercurial Trump, countries scramble to forge new allianceslist 3 of 3How Trump’s unchecked power has changed the worldend of list“The world is more dangerous and divided,” Carney said. “The US has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression.”“Many of our former strengths, based on our close ties to America, have become weaknesses,” he added. “Weaknesses that we must correct.”The comments are the latest from Carney to signal the shifting nature of US-Canada relations after decades of economic integration, as threats of higher tariffs from US President Donald Trump upend trade ties with foes and allies worldwide.Trump’s comments that Canada should become a US state have also rattled Canadians.At one point in the video, Carney held up a toy soldier depicting General Isaac Brock, a British military commander who fought against US forces during the War of 1812 invasion of what is today Canada.“The situation today feels unique, but we’ve faced down threats like this before,” Carney said.Carney’s Liberal Party government secured a parliamentary majority in special elections earlier this month, giving him more room to manoeuvre on key economic issues such as US trade relations. A review of the free trade pact between the US, Canada, and Mexico is scheduled for July.Carney became prime minister in 2025 after a campaign in which he promised to take a firm stance towards what many Canadians have perceived as unwarranted hostility from the US.While tensions have eased between Trump and Carney, and some tariffs have been rolled back, the Canadian leader has sought closer economic ties with countries such as China to reduce Canada’s dependence on the US.“We have to take care of ourselves because we can’t rely on one foreign partner,” Carney said on Sunday. “We can’t contro...
Canada's Carney says economic ties with US are a weakness that must be ...
Canadian Prime Minister Mark Carney said in a video address released on Sunday that Canada's strong economic ties to the United States were once a strength but are now a weakness that must be ...
Canada's prime minister says economic ties with US are a weakness that ...
VANCOUVER, British Columbia (AP) — Canadian Prime Minister Mark Carney said in a video address released Sunday that Canada's strong economic ties to the United States were once a strength but ...
