Canada’s new budget to reduce U.S. dependence

लगानी न्यूज

१९ कार्तिक २०८३, बिहीबार १७:०८November 5, 2026

. After the economy was affected by US President Donald Trump’s protectionist trade policies, Canada has released a new budget with the goal of reducing its dependence on the United States and diversifying trade relations.

Prime Minister Mark Carney has put forward the budget presented Thursday as a plan to “decide its own future.” He said relations between Canada and the United States have changed permanently and there is no chance of a return to the pre-Trump administration’s tariff-free trade status.

According to Finance Minister François-Philippe Champagne, the main objective of the budget is to promote domestic trade and diversify international partnerships. The budget has put forward a plan to support workers in the automobile and steel industries affected by U.S. tariffs, prioritizing energy production, critical mineral exploration and infrastructure development.TAG_OPEN_div_13

After the Republican Party’s defeat in the US midterm elections, the future of the tariffs imposed on Canada has become more uncertain. Democratic MP Jamie Raskin said his party would remove the tariffs and improve relations with Canada. However, Canadian Trade Minister Dominic LeBlanc made it clear that the tariffs would be negotiated with the White House, not with the US Congress.

Carney and Trump have expressed optimism about the possibility of a trade deal, but previous talks have stalled. The government expects the budget deficit to be lower than the 78.3 billion Canadian dollars estimated last year. The Liberal Party, which previously needed the opposition’s support to pass the budget, now enjoys a majority in parliament.