Liberal Prime Minister Mark Carney declared a new era of Canadian economic independence in his victory speech Tuesday night, vowing to protect workers and businesses from what he called an American “betrayal” under President Trump’s administration.
“America wants our land, our resources, our water, our country,” Carney told supporters after winning what appears to be a minority government. “President Trump is trying to break us so that America can own us. That will never, that will never ever happen.”
In a speech focused heavily on business and economic issues, Carney announced an ambitious agenda aimed at strengthening Canada’s economic sovereignty and reducing dependence on U.S. markets.
“Our old relationship with the United States, a relationship based on steadily increasing integration, is over,” Carney said. “The system of open global trade anchored by the United States…is over.”
Provincial responses reveal political divisions
Provincial leaders offered contrasting perspectives on the Liberal victory, highlighting regional economic concerns.
Ontario Premier Doug Ford struck a collaborative tone, emphasizing the need for federal-provincial partnership to address business challenges caused by U.S. tariffs.
“Ontario stands ready to work with the federal government to unleash our economy by cutting red tape so we can make Canada’s economy more competitive, resilient and self-reliant,” Ford said in a statement.
Ford specifically mentioned critical mineral development, nuclear energy projects, and infrastructure as priority areas requiring federal approval and funding.
Alberta Premier Danielle Smith’s response was more confrontational, expressing frustration that “the same government that overtly attacked our provincial economy almost unabated for the past 10 years has been returned to government.”
Smith warned that Alberta “will no longer tolerate having our industries threatened and our resources landlocked by Ottawa” and announced a special caucus meeting to discuss the province’s response to the election results.
Economic priorities outlined
The new prime minister committed to an aggressive economic development agenda, including:
- Building “twice as many homes every year with an entirely new housing industry”
- Creating “hundreds of thousands of not just good jobs, but good careers in the skilled trades”
- Developing “new trade and energy corridors” in partnership with provinces and Indigenous peoples
- Positioning Canada as “an energy superpower in both clean and conventional energy”
- Implementing “an industrial strategy that makes Canada more competitive while fighting climate change”
Carney acknowledged that the coming months “will be challenging, and they will call for some sacrifices,” but promised that those sacrifices would be shared “by supporting our workers and our businesses.”
New approach to international trade
In a significant shift from previous Liberal trade policy, Carney signaled a desire to diversify Canada’s trade relationships beyond the United States.
“We will strengthen our relations with reliable partners in Europe, Asia and elsewhere,” Carney said, emphasizing that Canada has “many, many other options than the United States to build prosperity.”
This approach aligns with concerns expressed by many business leaders about over-reliance on U.S. markets, particularly given recent trade tensions and tariffs.
Ford echoed this sentiment, calling on the federal government to support “new nation-building infrastructure, including pipelines, highways, railways, seaports and airports, to help Canadian goods reach new customers in new markets while binding our country together and reducing our reliance on the United States.”
The Liberals’ minority status means Carney will likely need support from other parties to implement his economic agenda, potentially complicating efforts to rapidly address business concerns about international trade and domestic economic resilience.
