Canadian prime minister Mark Carney has said Canada’s strong economic ties with the U.S. are now a weakness that must be corrected.
Speaking in a 10-minute video address released Sunday, Carney signaled that Canada was seeking new investments and trade deals with other countries after the impact of President Donald Trump’s trade tariffs.
Canada and America’s relationship has deteriorated since Trump took office in January. The president has repeatedly called for Canada to join the U.S. and labeled it the 51st state. The White House has also implemented numerous tariffs on its northern neighbor.
What To Know
“I will never sugarcoat our challenges,” he said. “Instead, I will talk with you directly and regularly about our plan.”
“The world as I said earlier 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.”
He added that workers affected by U.S. tariffs “are under threat” and uncertainty is resulting in lack of business investments.
He said Canada should attract new investments and “new partnerships abroad so we can sell into new markets.”
“It’s about taking back control of our security, our borders, and our future,” he said.
He continued: “We can’t rely on one foreign partner. We can’t control the disruption coming from our neighbors.”
To this end, he said Canada had signed “20 new deals on four continents in less than a year because Canada has what the world wants.” He also said he had increased defense investment.
What Happens Next
A review of the current North American Free Trade Agreement, which is between Canada, the U.S. and Mexico, is scheduled for July.
This is a developing story. More to follow.
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