Canadian Prime Minister Mark Carney delivered a video address on Sunday, highlighting the need for Canada to reassess its economic relationship with the United States. He described the country’s strong historical ties with its northern neighbor as once a strength, but now a “weakness that must be corrected.” In a 10-minute speech, Carney outlined his government’s strategy to strengthen the Canadian economy by attracting new investments and forging trade agreements with other nations.
He emphasized that the global landscape has become more volatile and divided, noting that the United States has significantly altered its approach to trade. Carney pointed out that the US has raised tariffs to levels not seen since the Great Depression, which has had a direct impact on Canadian industries such as automotive and steel. These sectors have been particularly affected by the recent changes in US trade policies, leading to uncertainty among businesses and a reluctance to invest.
Carney stated that he intends to provide Canadians with regular updates on the government’s efforts to diversify away from the US market. He stressed the importance of addressing these challenges head-on, saying, “Security can’t be achieved by ignoring the obvious or downplaying the very real threats that we Canadians face.” He pledged to be transparent about the difficulties the country faces, vowing not to sugarcoat the situation.
This is not the first time Carney has spoken about shifting global dynamics. During a speech at the World Economic Forum in Davos in January, he criticized economic coercion by major powers against smaller countries, a stance that earned him widespread praise but also drew criticism from former US President Donald Trump. Trump responded by stating, “Canada lives because of the United States,” suggesting that Carney should remember this when making future statements. There was no immediate reaction from the White House regarding Carney’s latest address.
Carney’s comments come shortly after he secured a majority government following special election wins. The opposition Conservatives are urging him to deliver on a US trade deal, which was part of his campaign promises last year. In his speech, Carney outlined several initiatives aimed at strengthening the Canadian economy, including attracting new investments, doubling clean energy capacity, and reducing internal trade barriers. He also highlighted increased defense spending, tax cuts, and efforts to make housing more affordable.
“We have to take care of ourselves because we can’t rely on one foreign partner,” Carney said. “We can’t control the disruption coming from our neighbours. We can’t control our future on the hope that it will suddenly stop.”
He added that Canada must focus on what it can control within its borders. “We can build a stronger country that can withstand disruptions from abroad,” he said. Carney noted that relying on the hope that the United States will return to its previous state is not a viable strategy.
“Hope isn’t a plan and nostalgia is not a strategy,” he stressed. Carney acknowledged that Canada has historically been a “great neighbour” to the US, supporting its military efforts in conflicts such as Afghanistan and the two world wars. However, he emphasized that the US has changed, and Canada must adapt accordingly.
“It’s about taking back control of our security, our borders, and our future,” Carney concluded. His speech underscored the need for Canada to take proactive steps to ensure economic resilience and national security in an increasingly uncertain global environment.