Carney Prioritizes US Trade Deal Amid EU Talks

Reaching a trade deal with the US is Prime Minister Mark Carney's top priority, according to recent commentary. This focus on the US is driven by the significant importance of the country as Canada's single largest trading partner, accounting for 72% of total merchandise exports, which was valued at $564.6 billion in 2025.

While Canada has set a goal of doubling its non-US market exports by 2035, generating an additional $300 billion in trade to reduce reliance on the US, the long-term plan may not be realistic due to potential changes in government and the unpredictability of global economic events.

However, despite the importance of diversifying trade relationships, Canadian Prime Minister Mark Carney should prioritize reaching a deal with the U.S. to provide long-term certainty for the Canadian economy. A trade agreement would eliminate economic uncertainty created by the lack of a deal, allowing foreign and domestic investors to access the US market through Canada's market.

Carney has been in discussions about joining the EU as an 'associate member,' but it is unclear what this means for Canadian taxpayers. The Prime Minister has stated that the details of any agreement will be submitted to Parliament, which raises concerns about transparency and the potential impact on Canadians.