Canadian Prime Minister Mark Carney is pushing to reshape global trade by deepening ties with countries beyond the United States, though Canada remains heavily dependent on its southern neighbour.
Carney is seeking closer cooperation with China and pursuing smaller, multi-country trade agreements as he positions Canada as a potential leader in a new global trading order following sweeping US tariffs under President Donald Trump.
Speaking during international meetings linked to Davos, Carney says long-standing multilateral systems are being eroded and argues that “plurilateral” deals between like-minded countries offer a way forward. He says Canada aims to act as a bridge between the European Union and Pacific Rim nations.
The shift comes as Trump’s aggressive trade and foreign policies, including renewed pressure over Greenland, force allies to diversify economic ties. The European Union is accelerating its own trade efforts, but Canada faces steeper challenges, with nearly 70% of its exports still going to the US.
Economists warn that reducing US dependence will require significantly expanding trade with China and other major economies, raising concerns about market stability and overexposure. While Canada has signed new deals with countries including China, Ecuador and Indonesia, experts say the US will remain Canada’s dominant trading partner for the foreseeable future.
Erizia Rubyjeana
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