{"id":9676,"date":"2026-11-05T08:15:52","date_gmt":"2026-11-05T08:15:52","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/05\/canada-unveils-budget-to-curb-reliance-on-us\/"},"modified":"2026-11-05T08:15:52","modified_gmt":"2026-11-05T08:15:52","slug":"canada-unveils-budget-to-curb-reliance-on-us","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/05\/canada-unveils-budget-to-curb-reliance-on-us\/","title":{"rendered":"Canada unveils budget to curb reliance on US"},"content":{"rendered":"
\"Canada<\/p>\n

Canadian Prime Minister Mark Carney\u2019s government presents its budget on Thursday, a plan designed to reduce US reliance, which remains Ottawa\u2019s priority despite President Donald Trump\u2019s midterm election setback.<\/p>\n

Carney has argued that relations between Canada and the United States have been permanently altered and that pre-Trump tariff-free relations will not return.<\/p>\n

Carney says Canada needs to urgently diversify its trade relationships and has named Thursday\u2019s budget \u2014 his second since taking office last year \u2014 \u201cMasters of our Destiny.\u201d<\/p>\n

\u201cAt its core, our plan is about changing Canada\u2019s growth model,\u201d Finance Minister Francois-Philippe Champagne said this week.<\/p>\n

Champagne, who will present the budget to parliament, added that the goals include boosting domestic commerce within Canada and \u201cdiversifying our trade.\u201d<\/p>\n

\u201cNo matter what happens south of the border, no matter what happens in the world, we will be more resilient, we will be stronger, we will be more independent,\u201d Champagne said Wednesday, after selecting a new pair of shoes for his budget speech, keeping a quirky Canadian tradition.<\/p>\n

Trump\u2019s tariffs have battered Canada\u2019s economy but the future of his protectionist trade measures faced fresh uncertainty after his Republican Party suffered a crushing midterm defeat.<\/p>\n

Democrats, who have been critical of tariffs on Canada, will take control of both the US House and Senate next year.<\/p>\n

Senior Democratic Congressman Jamie Raskin told Canada\u2019s public broadcaster CBC on Wednesday that his party is \u201cgoing to put an end to these tariffs\u201d and will be seeking to repair ties \u201cwith our best friends like Canada.\u201d<\/p>\n

But Canada\u2019s minister responsible for US trade, Dominic LeBlanc, noted Wednesday that negotiations on tariffs will be held with Trump\u2019s White House, not Congress.<\/p>\n

Canada\u2019s focus, including in the budget, will be on \u201cdiversifying our trading relationships,\u201d LeBlanc said.<\/p>\n

Both Trump and Carney have in recent days sounded optimistic about the prospects of a trade deal, but there were similarly rosy predictions in August before talks broke down.<\/p>\n

\u2013 Major projects \u2013<\/h2>\n

The budget is expected to allocate funds towards the major national projects Carney has tagged as crucial to Canadian economic sovereignty, including infrastructure for energy production and critical mineral mining.<\/p>\n

Champagne said there will also be support for workers hurt by Trump\u2019s tariffs in sectors like autos and steel.<\/p>\n

The opposition is likely to raise alarm about deficit spending, but the deficit is expected to be lower than the CAN$78.3 billion ($56.3 billion) projected in Carney\u2019s first budget last year.<\/p>\n

University of Ottawa political scientist Genevieve Tellier noted that implementation of the budget will in part depend on \u201cthe impact of tariffs,\u201d particularly whether Trump\u2019s levies cause further job losses.<\/p>\n

The Bank of Canada last month raised interest rates for the first time in three years, hoping to tame inflation caused by surging energy prices amid the Iran war.<\/p>\n

Budget bills in Canada are confidence votes and last year Carney\u2019s government needed opposition support and abstentions to survive, but his Liberals have since secured a parliamentary majority.<\/p>\n

\n

The post Canada unveils budget to curb reliance on US<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

Canadian Prime Minister Mark Carney\u2019s government presents its budget on Thursday, a plan designed to reduce US reliance, which remains Ottawa\u2019s priority despite President Donald Trump\u2019s midterm election setback. Carney… <\/p>\n","protected":false},"author":1,"featured_media":9677,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-9676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=9676"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/9677"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=9676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=9676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=9676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}