Carney: Canada no longer sees the United States as a trustworthy trading partner

Canadian Prime Minister Mark Carney confirmed that his country is no longer able, under the current circumstances, to rely on the United States as a trustworthy trading partner as it once did, noting that U.S. tariffs and shifts in Washington's trade policy have weakened trust between the two sides.

In a speech delivered in Mississauga, Carney explained that his government is working on preparing a support package for steelworkers and canola oil producers affected by the disruptions, describing what is happening in the global trading system as a "deep fracture, not just a transitional phase."

He pointed out that U.S. tariffs, which have reached unprecedented levels since the Great Depression of the 1930s, now cover most countries and most categories of goods, emphasizing that gaining access to the U.S. market has come to require a "political and economic price," through investments or unilateral adjustments in trade policies.

Carney stressed that the repercussions of these policies have become tangible, as unemployment rates are rising in some sectors and regions of Canada, and supply chains that have lasted for decades are breaking down, while companies are forced to seek new alternatives for raw materials amid an environment of uncertainty that hinders investment and growth.

Despite noting that Canada still officially enjoys the best trade terms with the United States, where 85% of its exports are exempt from tariffs, he affirmed that the reality has changed, saying: "We clearly understand that relying on America as in the past is no longer possible under the new circumstances."