April 19, 2026 / 4:24 PM EDT / AP
Canadian Prime Minister Mark Carney said in a video address Sunday that Canada’s historically strong economic ties to the United States, once a strength, have become “weaknesses that we must correct.”
In the nearly 10-minute address, Carney outlined plans to strengthen Canada’s economy by attracting new investment and signing trade deals beyond the U.S. He warned the world is “more dangerous and divided” and said the U.S. has “fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression.”
“Many of our former strengths, based on our close ties to America, have become weaknesses. Weaknesses that we must correct,” he said.
Carney attributed job losses in the auto and steel sectors to tariffs imposed by President Trump and said businesses are holding back investments because of “the pall of uncertainty that’s hanging over all of us.” He also noted anger in Canada over Mr. Trump’s suggestion that Canada become a “51st state.”
He promised to give Canadians regular updates on efforts to diversify away from reliance on the U.S., saying, “Security can’t be achieved by ignoring the obvious or downplaying the very real threats that we Canadians face. I promise you I will never sugarcoat our challenges.”
A former governor of the Bank of Canada and the Bank of England, Carney has previously warned of a shifting global balance of power. His January speech in Davos criticizing economic coercion by great powers drew praise internationally and a rebuke from Mr. Trump, who said, “Canada lives because of the United States.”
Carney’s remarks come after he secured a majority government following special election wins and amid pressure from opposition Conservatives to finalize a U.S. trade deal—one of his campaign promises. A review of the current North American trade pact involving Canada, the U.S. and Mexico is scheduled for July.
He said his government aims to attract investment, double clean energy capacity, reduce internal trade barriers, increase defense spending, cut taxes and make housing more affordable. “We have to take care of ourselves because we can’t rely on one foreign partner,” he said. “We can control what happens here. We can build a stronger country that can withstand disruptions from abroad.”
Carney warned that hoping for a return to past U.S. policies is not a strategy. “Hope isn’t a plan and nostalgia is not a strategy,” he said, adding that while Canada has long been a steadfast U.S. ally in conflicts from the world wars to Afghanistan, “the U.S. has changed and we must respond. It’s about taking back control of our security, our borders and our future.”