Canadian Prime Minister Mark Carney said President Donald Trump’s tariff levels are now comparable to those during the Great Depression
Canada’s Prime Minister Mark Carney warned that the country’s close economic ties with the United States are shifting from a strength into growing “weakness,” as new tariffs threaten key industries.
In a 10-minute video address on Sunday, Carney said US trade policy has changed under President Donald Trump, with tariff levels now comparable to those during the Great Depression.
He noted that Canadian sectors such as auto, steel, and lumber are facing increasing pressure. Carney stressed that the country must reduce reliance on a single trading partner by expanding global trade ties and attracting new investments.
He also pledged to boost clean energy capacity, increase defense spending, cut taxes, and improve housing affordability.
His remarks come ahead of a review of the CUSMA free trade pact.
US Commerce Secretary Howard Lutnick recently criticized Canada’s strategy and its growing trade links with China.