Canadian Prime Minister Mark Carney stated on Thursday that the decades-long process of deepening economic integration between Canada and the United States has come to an end, according to a report from Reuters.
Speaking on the shifting dynamics of North American trade relations, Carney noted that Washington has fundamentally altered its approach to trade, marking a decisive break from the policies that once fostered close economic ties between the two nations.
Key quotes:
- “The US has fundamentally changed its approach to trade.”
- “It’s not a smooth transition, it’s a rupture.”
- “The decades-long process of economic integration with the US is over.”
- “Our relationship with the United States will never be the same.”
- “Now is not the time to be cautious.”
Market reaction:
Following Carney’s remarks, the Canadian Dollar (CAD) held steady, with the USD/CAD pair trading around 1.3990, down 0.02% on the day.
