Carney Says Canada's Economic Ties With US Are 'Weaknesses'

Prime Minister Cites Trade Deals With Other Countries

Mark Carney
Canada Prime Minister Mark Carney speaks with media in Ottawa in 2025. (Adrian Wyld/The Canadian Press via Associated Press)

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VANCOUVER, British Columbia 鈥 Canadian Prime Minister Mark Carney said in a video address released April 19 that Canada鈥檚 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鈥檚 efforts to strengthen the Canadian economy by attracting new investments and signing trade deals with other countries.

鈥淭he world is more dangerous and divided,鈥 Carney said. 鈥淭he U.S. has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression.

鈥淢any of our former strengths, based on our close ties to America, have become weaknesses. Weaknesses that we must correct.鈥



Carney said听tariffs听imposed by U.S. President Donald Trump have affected workers in the auto and steel industries. He added that businesses are holding back investments 鈥渞estrained by the pall of uncertainty that鈥檚 hanging over all of us.鈥

Many Canadians have also been angered by Trump's comments suggesting Canada become the 51st state.

Carney said he plans to give Canadians regular updates on his government鈥檚 efforts to diversify away from the U.S.

鈥淪ecurity can鈥檛 be achieved by ignoring the obvious or downplaying the very real threats that we Canadians face,鈥 he said. 鈥淚 promise you I will never sugarcoat our challenges.鈥

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It鈥檚 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听rebuke from Trump.

鈥淐anada lives because of the United States,鈥 Trump said after the speech. 鈥淩emember that, Mark, the next time you make your statements.鈥

There was no immediate White House reaction April 19 to the address.

Carney鈥檚 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鈥檚 election.

A review of United States-Mexico-Canada free trade agreemeent听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鈥檚 increased defense spending, reduction in taxes and efforts to make housing more affordable.

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鈥淲e have to take care of ourselves because we can鈥檛 rely on one foreign partner,鈥 he said. 鈥淲e can鈥檛 control the disruption coming from our neighbors. We can鈥檛 control our future on the hope it will suddenly stop.

鈥淲e can control what happens here. We can build a stronger country that can withstand disruptions from aboard.鈥

Carney said simply hoping the 鈥淯nited States will return to normal鈥 is not a feasible strategy.

鈥淗ope isn鈥檛 a plan and nostalgia is not a strategy,鈥 he said.

Carney said Canada has 鈥渂een a great neighbor鈥 standing with the U.S. in conflicts including Afghanistan, plus two world wars.

鈥淭he U.S. has changed and we must respond,鈥 he said. "It鈥檚 about taking back control of our security, our borders and our future.鈥

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