Canada's New Trade Horizons: Moving Beyond US Dependencies

Canadian Prime Minister Mark Carney aims to diversify the nation's trade by doubling non-US exports within a decade. As US tariffs threaten industries like steel and auto, Carney emphasizes re-engaging with global markets, particularly India and China, while highlighting Canada's strengths in energy resources and strategic minerals.

Prime Minister Mark Carney has outlined an ambitious goal for Canada: to double its non-US exports within the next ten years. This comes as the nation grapples with the chilling effect of American tariffs on investment.

Formerly a strong economic partner, the US is now seen as a vulnerability due to escalating tariffs, which have particularly impacted industries such as autos, steel, and lumber, according to Carney. He stressed the need for Canada to become more self-reliant and expand trade relations with global powers like India and China.

In his address, Carney called Canada an 'energy superpower', citing its significant oil, natural gas, and mineral reserves. He also acknowledged that transforming the Canadian economy would require time and sacrifice, but underscored the necessity for change given the shifting landscape of international trade.

(With inputs from agencies.)