Carney Unveils Budget to Strengthen Canada's Economy as Trump's Trade War Slows Growth
The budget sets out tax and spending measures to strengthen domestic industry and reduce exposure to U.S. trade shocks, officials said.
- On Thursday, Canadian Prime Minister Mark Carney unveiled the "Masters of Our Destiny" budget aimed at reducing economic dependence on the United States as President Donald Trump's trade war reshapes the allies' relationship.
- Forecasting growth of just 1% in 2026 and 1.7% in 2027, the government plans to double exports outside the United States by 2035, forging closer ties with Europe and Asia.
- The government projects $603 billion Canadian in spending and a $62.3 billion deficit for 2026-27, while tax incentives reduce Canada's effective investment tax rate to 6.4%, less than half the U.S. comparable rate.
- Allocating $7.7 billion to strengthen the defense industry, the budget aims to award 70% of military contracts to Canadian firms and establishes a $25 billion national sovereign wealth fund.
- The budget announcement comes two days after Democrats swept U.S. midterm elections, potentially weakening Trump's political position as the countries pursue a possible trade agreement.
14 Articles
14 Articles
Carney unveils budget to strengthen Canada’s economy as Trump’s trade war slows growth – WTOP News
OTTAWA, Ontario (AP) — Canadian Prime Minister Mark Carney’s government unveiled a budget Thursday aimed at making Canada less dependent on the United States as President Donald Trump’s trade war reshapes the allies’ economic relationship. The budget, titled “Masters of Our Destiny,” proposes $142.1 billion Canadian (US$101.6 billion) multiyear spending and tax breaks, including incentives...
My Mother Lode
The Seattle TimesCarney unveils budget to strengthen Canada’s economy as Trump’s trade war continues
OTTAWA, Ontario (AP) — Canadian Prime Minister Mark Carney’s government unveiled a budget Thursday aimed at making Canada less dependent on the United States as President Donald Trump’s trade war reshapes the allies’ economic relationship. The budget, titled “Masters of Our Destiny,” proposes $142.1 billion Canadian (US$101.6 billion) multiyear spending and tax breaks, including incentives...
Mark Carney’s government does not deviate from its course despite the fact that the political landscape has changed radically in its neighbor
Mark Carney's government holds its course even though the political scene has radically changed in its powerful neighbor
Carney unveils budget to strengthen Canada's economy as Trump's trade war slows growth
Prime Minister Mark Carney's government has unveiled a budget aimed at making Canada less dependent on the United States as President Donald Trump's trade war reshapes the allies' economic relationship.
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