Canadians understand the importance of "self-reliance" and "independence."
The Toronto Star's front page reported that Canadian Prime Minister Justin Trudeau has set a goal to double Canada's exports to countries other than the United States within the next decade. He stated that American tariffs are causing investment to cool down. Trudeau will present the government budget on November 4, and he said on Wednesday that many of Canada's past advantages—based on close ties with the United States—have now become vulnerabilities. "In industries most affected by American tariffs—automotive, steel, and lumber—workers' jobs are under threat. Our businesses are also holding back investments, shrouded in the shadow of uncertainty," Trudeau said.
President of the United States Donald Trump has been threatening Canada's economy and sovereignty through tariffs, most aggressively claiming that Canada might become the "51st state." In his evening speech to Canadians, Trudeau reiterated that the increasingly close economic relationship between Canada and the United States over the decades has now ended. "The fundamental position of the United States on trade has undergone a fundamental change, raising tariffs to levels seen during the Great Depression," Trudeau said. "We must take care of ourselves because we cannot rely on a single foreign partner."
In recent months, tensions between the neighboring country and long-time ally have slightly eased due to Trudeau's attempts to reach a trade agreement with Trump, but tariffs continue to have an impact, especially in sectors such as aluminum, steel, automobiles, and lumber.
More than 75% of Canada's exports go to the United States.
"We are re-engaging with global giants India and China," he said.
Canada is the main export destination for 36 U.S. states. Approximately CAD 3.6 billion (about USD 2.7 billion) worth of goods and services cross the border every day.
The Canada-U.S. free trade agreement will be reviewed in 2026.
Trudeau called Canada an "energy superpower" and said the country has the world's third-largest oil reserves and the fourth-largest natural gas reserves.
About 60% of U.S. crude oil imports come from Canada, and 85% of U.S. electricity imports come from Canada.
Canada is also the largest foreign supplier of steel, aluminum, and uranium to the United States and has 34 critical minerals and metals, resources that the Pentagon is keenly watching and investing in for national security reasons.
"I will always face the challenges and choices we must confront," Trudeau said. "Clearly, we won't transform our economy easily or within a few months—it will require some sacrifices and time."
Original: www.toutiao.com/article/1846820865739904/
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