Canada Seeks to Diversify Economy Amid Escalating Trade War

Canadian Prime Minister Mark Carney announced that his country would accelerate its efforts to reduce economic reliance on the United States in response to retaliatory tariffs imposed by Washington. The move comes as about $20 billion worth of US goods face new duties, with rates ranging from 15% to 50%. This marks a significant escalation in the trade war between the two nations.

Carney cited four decades of deeper economic integration that have left Canada too reliant on its southern neighbor. He noted that while the tariffs will cause short-term pain, they push Canada to diversify its economy and invest in infrastructure, making it more resilient in the long run.

The Prime Minister praised Canadians for choosing to buy domestic goods and travel within their country, saying this sends a message of unity and economic strength. He also defended Canada's decision to retaliate against US tariffs, stating that they are necessary to protect Canadian workers and industries.