In response to U.S. tariffs and trade pressure under the Trump administration, Mark Carney has pursued a strategy of economic diversification, seeking to reduce Canada's reliance on the United States by expanding trade relationships with China, the EU, India, and other partners. This includes signing new trade deals, advocating for "middle power" coalitions, and increasing defence spending.
Carney has also made public statements during his election campaign and at international forums such as Davos suggesting that the traditional rules-based international order is ending and that Canada must reduce its dependence on any single trading partner. Approximately 75% of Canadian exports currently go to the United States.