Canada’s Prime Minister says the economic connection with the United States has gone from strength to weakness

VANCOUVER, British Columbia (AP) — Canada’s strong economic ties with the United States were once a strength but are now a weakness that must be corrected, Canadian Prime Minister Mark Carney said in a video address released Sunday.

In the 10-minute speech, Carney spoke about his government’s efforts to boost the Canadian economy by attracting new investment and signing trade agreements with other countries.

“The world is more dangerous and more divided,” Carney said. “The United States 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.”

Carney said that the tariffs imposed by US President Donald Trump affected workers in the automobile and steel industries. He added that companies are holding back investments “constrained by the darkness of uncertainty that hangs over us all.”

Many Canadians also expressed anger at Trump’s comments suggesting Canada become the 51st state.

Carney said he plans to provide regular updates to Canadians on his government’s efforts to diversify the economy away from the United States

“Security cannot be achieved by ignoring the obvious or downplaying the real threats we Canadians face,” he said. “I promise I will never water down our challenges.”

This is not the first time that Carney, who served as central bank governor, first at the Bank of Canada and later at the Bank of England, has spoken of a shift in global power.

During a speech in January at the World Economic Forum in Davos, Switzerland, he won widespread praise for his condemnation of economic coercion by great powers against small countries.

His comments sparked a rebuke from Trump.

“Canada lives because of the United States,” Trump said after the speech. “Remember that, Mark, next time you make a statement.”

There was no immediate reaction from the White House on Sunday to the letter.

Carney’s statements came days after the formation of a majority government after his victory in special elections, and in light of the opposition Conservative Party’s pressure on him to reach an American trade agreement, which was among his promises in last year’s elections.

A review of the current version of the North American Free Trade Agreement between Canada, the United States and Mexico is scheduled for July.

In his speech, Carney said he wants to attract new investment to Canada, double the amount of clean energy capacity and reduce trade barriers within the country. He also stressed Canada’s increased defense spending, tax cuts and efforts to make housing more affordable.

“We have to take care of ourselves because we cannot depend on one foreign partner,” he said. “We cannot control the disruption coming from our neighbors. We cannot control our future and hope it will suddenly stop.

“We can control what happens here. We can build a stronger country that can withstand turmoil from outside.”

Carney said that merely hoping the United States “returns to normal” is not a feasible strategy.

He added: “Hope is not a plan, and nostalgia is not a strategy.”

Carney said Canada “has been a great neighbour” that has stood by the United States in conflicts including Afghanistan, as well as both world wars.

He added: “The United States has changed and we must respond.” “This is about taking back control of our security, our borders and our future.”