Carney Builds Canadian Economy Beyond US Dependence

Canadian Prime Minister Mark Carney has been working to reduce Canada's dependence on the US market, following nearly four decades of integration under the US-Canada Free Trade Agreement and NAFTA. The agreement created cross-border supply chains in autos, energy, and manufacturing, with around 70% of Canada's exports going to the US.

Carney has argued that countries need economic strength to keep any one power from dictating their choices, and has been building a relationship with Europe as an alternative. He met with European Commission President Ursula von der Leyen in Strasbourg, France, and addressed the European Parliament on Thursday, discussing associate membership with the EU.

Carney's goal is to double non-US trade over the next decade, aiming for a free-trade deal with India by year's end. He believes Canada can offer stability, rule of law, and reliability to global investors, as opposed to the uncertainty of the US market under President Trump.