Canada Shifts Gears as Tariffs Bite

Canada's Prime Minister Mark Carney announced that his country will accelerate plans to reduce its economic reliance on the United States in response to recent tariffs imposed by US President Donald Trump.

The move comes after a series of retaliatory measures took effect, targeting about $20 billion worth of U.S. goods and affecting around 6% of U.S. exports to Canada last year.

Carney stated that Canada had become too reliant on the U.S. economy due to four decades of deeper integration, but with the trade war escalating, it's time for a change.

The Canadian Prime Minister acknowledged that the short-term effects will be painful, but added that standing still would ultimately cost more than making adjustments now.