Canadian PM says close economic ties with US have become a weakness'

"The world is more dangerous and divided, Carney said. The US 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, he added. Weaknesses that we must correct."

"The situation today feels unique, but we've faced down threats like this before, Carney said. Carney's Liberal Party government secured a parliamentary majority in special elections earlier this month, giving him more room to manoeuvre on key economic issues such as US trade relations."

Mark Carney emphasizes the need for Canada to build economic relationships beyond the United States due to shifting trade dynamics. He notes that close ties with the US have become a liability, particularly as the US raises tariffs. Carney highlights the dangers of excessive dependence on one country and recalls historical threats faced by Canada. His government, having secured a parliamentary majority, is positioned to address these economic challenges, including a review of the North American free trade agreement scheduled for July.

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