{"id":134629,"date":"2025-09-10T21:06:03","date_gmt":"2025-09-10T21:06:03","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/134629\/"},"modified":"2025-09-10T21:06:03","modified_gmt":"2025-09-10T21:06:03","slug":"carney-says-diversifying-trade-relationships-with-europe-asia-among-key-fall-objectives","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/134629\/","title":{"rendered":"Carney says diversifying trade relationships with Europe, Asia among key fall objectives"},"content":{"rendered":"<p>Prime Minister Mark Carney says the federal government will launch a new trade diversification strategy this fall to &#8220;strengthen existing relationships and open new markets for Canadian businesses, particularly in Asia.&#8221;<\/p>\n<p>Carney, who was addressing the Liberal caucus in Edmonton on Wednesday, outlined the government&#8217;s seven priorities for this fall, which span economic security, reducing the cost of living, building affordable housing, protecting Canadian sovereignty and ensuring sustainable immigration rates.<\/p>\n<p>In his speech, he emphasized that the global economy is not undergoing a transition but &#8220;a rupture,&#8221; as the U.S. fundamentally transforms all of its trading relationships.<\/p>\n<p>&#8220;We are over the shock, but we should never forget the lessons: we have to look out for ourselves, and we have to take care of each other,&#8221; Carney said, noting that Canada would build a new economic and security relationship with the U.S. while diversifying its trade relationships.<\/p>\n<p>Work on implementing Canada&#8217;s <a href=\"https:\/\/www.cbc.ca\/news\/politics\/canada-rearm-europe-deal-1.7567162\" target=\"_blank\" rel=\"nofollow noopener\">recent deal<\/a> with the European Union will start this month, after the announcement of Canada&#8217;s new special envoy, Carney said.<\/p>\n<p>The PMO did not provide details about who the envoy would be or what the position would look like.<\/p>\n<p>Canada has been making efforts to shore up ties with Europe as it <a href=\"https:\/\/www.cbc.ca\/news\/politics\/carney-tariffs-trump-third-option-analysis-1.7604446\" rel=\"nofollow noopener\" target=\"_blank\">reassesses its relationship with the U.S.<\/a> in the middle of a trade war.<\/p>\n<p>In June, Carney signed a strategic defence and security partnership with the European Union, opening the door for Canadian companies to participate in the $1.25-trillion ReArm Europe program.<\/p>\n<p>The prime minister <a href=\"https:\/\/www.cbc.ca\/news\/politics\/carney-europe-defence-energy-1.7616345\" target=\"_blank\" rel=\"nofollow noopener\">travelled to Germany, Ukraine and Poland<\/a> in August to meet with key business and political leaders in the hope of advancing opportunities for co-operation in areas, including trade, energy, critical minerals, defence and artificial intelligence.<\/p>\n<p>WATCH | Carney says U.S. is transforming all of its trading relationships: <img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/09\/1757538363_930_default.jpg\"  alt=\"\" class=\"thumbnail\" loading=\"lazy\"\/><\/p>\n<p class=\"video-item-title\">Carney says global economy going through a &#8216;rupture&#8217;<\/p>\n<p>Speaking from the Liberal caucus retreat in Edmonton on Wednesday, Prime Minister Mark Carney says the United States has fundamentally transformed all of its trading relationships, causing a &#8216;rupture,&#8217; not a transition, in the global economy.<\/p>\n<p>Carney reiterated that affordable housing remains one of the government&#8217;s objectives this fall.<\/p>\n<p>He\u00a0said the government will launch its <a href=\"google.com\/url?q=https:\/\/www.cbc.ca\/news\/politics\/carney-double-pace-home-building-1.7497947&amp;sa=D&amp;source=docs&amp;ust=1757523646590566&amp;usg=AOvVaw0FGMGpk6zQdYiiPKrcfiun\" target=\"_blank\">federal housing program<\/a>, Build Canada Homes, next week. It aims to double the pace of housing construction over the next decade.<\/p>\n<p>The entity would act as a developer overseeing the construction of affordable housing in Canada and provide tens of billions in financing for new affordable housing projects across the country.<\/p>\n<p>&#8220;We won&#8217;t just build houses, we will build housing that is compassionate, competitive, climate friendly and above all, that is Canadian,&#8221; Carney said.<\/p>\n<p>The government&#8217;s new &#8220;climate competitiveness&#8221; strategy will also be released this fall, he said, adding that addressing climate change is an &#8220;economic imperative.&#8221;<\/p>\n<p>Sovereignty and security<\/p>\n<p>Canada&#8217;s new industrial defence strategy is forthcoming, Carney said.<\/p>\n<p>The government committed to meeting the NATO benchmark target of <a href=\"https:\/\/www.cbc.ca\/news\/politics\/carney-canada-to-meet-two-per-cent-nato-1.7555928\" target=\"_blank\" rel=\"nofollow noopener\">two per cent<\/a> of the country&#8217;s gross domestic product by the end of the current fiscal year in March.<\/p>\n<p>&#8220;Our renewed commitment to defence will create tens of thousands more fulfilling, high-paying careers for Canadian workers,&#8221; Carney said.<\/p>\n<p>The <a href=\"https:\/\/liberal.ca\/wp-content\/uploads\/sites\/292\/2025\/04\/Mark-Carneys-Liberals-release-plan-to-fight-crime-protect-Canadians-and-build-safer-communities.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Liberal public safety plan<\/a> announced in April includes measures to broaden support for police, Canada Border Services Agency (CBSA) officers and other first responders.<\/p>\n<p>Carney said the government would also propose legislation to make bail laws stricter for home invasions, car thefts and gang crime.<\/p>\n<p>&#8220;When our laws repeatedly fail to protect those basic rights, we need new laws,&#8221; he said. &#8220;This fall, we will deliver them.&#8221;<\/p>\n<p>&#8216;Sustainable&#8217; immigration rates<\/p>\n<p>The prime minister reiterated that the government is aiming to return Canada&#8217;s immigration rates to &#8220;sustainable levels.&#8221;<\/p>\n<p>In March 2024, the Trudeau government stated <a href=\"https:\/\/www.cbc.ca\/news\/politics\/new-immigration-levels-plan-1.7361972\" target=\"_blank\" rel=\"nofollow noopener\">its plans<\/a> to reduce the rate of temporary residents\u00a0from 6.2 per cent to five per cent by 2027.<\/p>\n<p>Wednesday, Carney said his government aims to reduce the total number of temporary foreign workers and international students to less than five per cent of Canada&#8217;s population by the end of 2027, down from its peak of 7.3 per cent in 2024.<\/p>\n<p>&#8220;The temporary foreign worker program must have a focused approach that targets strategic sectors and regions,&#8221; Carney said, adding that Canadians are generous people.<\/p>\n<p>&#8220;We are welcoming people to our country. We have to make sure we have the capacity to fulfil\u00a0that welcome,&#8221; he said.<\/p>\n<p>In closing, Carney noted that the fall budget will &#8220;spend less&#8221; to give Canadians the ability to invest in initiatives that will catalyze &#8220;enormous private capital&#8221; and &#8220;unleash Canada&#8217;s economic potential to be the strongest economy in the G7.&#8221;<\/p>\n<p>He referenced Treasury Board President Shafqat Ali announcing on Monday that the federal government had identified <a href=\"https:\/\/www.cbc.ca\/news\/politics\/red-tape-progress-reports-federal-government-1.7627428\" target=\"_blank\" rel=\"nofollow noopener\">nearly 500 ways<\/a> departments are cutting red tape to make themselves more efficient.<\/p>\n<p>&#8220;In the election, we made a clear commitment to Canadians to bring a new fiscal discipline to the federal budget,&#8221; Carney said. &#8220;It will require tough choices in tough times for a better future.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"Prime Minister Mark Carney says the federal government will launch a new trade diversification strategy this fall to&hellip;\n","protected":false},"author":2,"featured_media":134630,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-134629","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/134629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=134629"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/134629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/134630"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=134629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=134629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=134629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}