Mark Carney Seeks ‘New Partnership’ With US Amid Trade Tensions and Trump Pressure

Mark Carney has called for a fresh economic partnership with the United States despite months of growing trade tensions and political friction between both countries.

Speaking at the Economic Club of New York on Thursday, the Canadian prime minister said closer cooperation between Canada and the US in key industries such as aluminum, automobiles and critical minerals could strengthen North America’s economic future and “help make America great again.”

Carney’s remarks come at a sensitive moment as Canada continues navigating an increasingly strained relationship with Washington following renewed tariff battles and controversial comments from US President Donald Trump about annexing Canada as the “51st state.”

The Canadian leader warned that the global economy is experiencing a major “rupture” as the United States reshapes its trade relationships and imposes tariffs at levels not seen since the Great Depression.

While striking a more diplomatic tone in New York, Carney made it clear that Canada is actively working to reduce its economic dependence on the United States. He revealed that Ottawa plans to double Canadian exports to alternative global markets within the next decade and has already signed more than 20 economic and security agreements over the past year.

At the same time, US trade officials are reportedly holding talks with Mexican authorities in Mexico City aimed at overhauling the US-Mexico-Canada trade agreement, although Canada is currently excluded from those discussions.

Carney acknowledged that past economic integration with the US created vulnerabilities for Canada, especially as American trade policies become increasingly aggressive and unpredictable.

Earlier this year at the World Economic Forum in Davos, Switzerland, Carney warned about “American hegemony” and urged middle powers to work together to avoid becoming vulnerable to larger global powers.

His government has already started shifting some strategic priorities away from Washington. Earlier this week, Canada announced plans to purchase a new fleet of military aircraft from Sweden instead of relying solely on American defence manufacturers.

Despite those moves, Carney praised the United States during his New York speech, describing it as “the most dynamic, resilient and inventive country the world has ever known.” He also stressed that the founding American values of liberty, democracy and openness remain important for the future of the global order.

“At a time of a global energy crisis, Canada provides the United States with reliable power and critical minerals that help fuel American growth,” Carney stated.

The Canadian prime minister also addressed his recent meeting with Chinese President Xi Jinping in Beijing, describing it as part of efforts to reset strained relations between Canada and China after years of diplomatic tensions under former Prime Minister Justin Trudeau.

According to Carney, he privately urged China to take greater responsibility in shaping the global financial system and expanding the international role of its currency.