Mark Carney delivers stark warning on US relations and calls for bold Canada economic reset

Prime Minister Mark Carney has warned that Canada must rethink its relationship with the United States, saying shifting US policies have turned a long-standing strength into a potential weakness.

In a pre-recorded address released Sunday, Carney said the global landscape has become more unstable and that Canada needs a new economic strategy to respond.

“The U.S. has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression,” Carney said in the address.

“Many of our former strengths, based on our close ties to America, have become our weaknesses; weaknesses that we must correct.”

He said industries such as auto, steel and lumber are facing pressure from tariffs, while businesses are delaying investments due to ongoing uncertainty.

“The US has changed and we must respond,” Carney added.

Carney outlined plans to strengthen Canada’s economy, including building new trade and energy corridors, expanding clean energy capacity and creating “one Canadian economy out of 13.”

He acknowledged the scale of the proposals but defended their urgency. “But in a crisis, fortune favours the bold,” he said.

“There’s much forward guidance to be found in our shared history. We will get through this because of who we have always been,” he said.

“It’s our country. It’s our future. We are taking back control, to build Canada strong.”