world-economy

Carney Charts Economic Diversification With Export Push, Energy Expansion

Prime Minister Mark Carney is advancing a sweeping economic strategy to reduce Canada's dependence on US trade. His government has set a goal to double non-US exports within the decade. The initiative includes plans to nearly double electricity generation capacity by 2050, with flexibility for natural gas-powered facilities alongside renewable sources. Carney's government is streamlining federal project approvals to one year, responding to criticism that regulatory delays have hindered economic development. The administration is exploring asset sales at Canadian airports to generate capital for growth initiatives. Carney signaled willingness to deepen trade relationships with the US and Mexico in targeted sectors, seeking to balance diversification with continental economic integration. The multi-pronged approach reflects the government's effort to strengthen economic resilience while maintaining key partnerships.