In a bid to curb economic reliance on its southern neighbor, Canada has unveiled a plan to double its exports to non-U.S. markets over the next decade. The announcement comes amid escalating trade friction with the United States, which currently absorbs about three-quarters of Canada's merchandise exports.
Previewing the upcoming federal budget, Prime Minister Mark Carney framed this strategy as essential for "building a stronger economy" in what he described as "a more dynamic, a more competitive, a more hostile world." He warned that without decisive action now, economic pressures would only intensify.
Carney conceded that reshaping Canada's export profile won't be quick or painless. "We won't transform our economy easily or in a few months. It will take some sacrifices and it will take some time," he said, underscoring the government's commitment to a long-term pivot.
The move builds on a massive infrastructure plan announced last September, which includes investments in energy, mining and port expansion. By strengthening domestic capacity, Ottawa aims to position Canada as a more agile player in Asia-Pacific, Europe and other fast-growing regions.
For young entrepreneurs and global citizens, this shift signals new opportunities in diverse markets—from sustainable resource projects in Southeast Asia to tech partnerships in Europe. As Canada charts its course toward a more balanced trade portfolio, the world watches to see if this bold diversification will pay off.
Reference(s):
cgtn.com
