Ottawa (AFP) – Canada presented this Thursday a budget aimed at continuing the country's transformation, in order to reinforce its "economic independence" from Donald Trump's United States.

First modification: 06/11/2026 - 17:37

Mark Carney's government is not deviating from its course despite the fact that the political landscape has radically changed in its powerful neighbor, after the resounding victory on Tuesday of the Democrats, who have been critical of the tariffs imposed on Canada.

The budget aims to ensure "greater economic independence" for Canada, whose main trading partner is the United States.

"Diversification will take time, given the magnitude and depth of economic relations between Canada and the United States. But change is already underway," the government notes in this document of more than 500 pages.

"What happens in the United States is important and the situation will evolve. But we are focused on what happens here, on the same challenges" that existed before the midterm elections in the neighboring country, Carney said this Thursday.

Carney, who has been in power for a year and a half, has made Canada's autonomy from the United States the cornerstone of his policy.

The bilateral trade conflict, initiated by the Trump administration, worsened this summer after Canada broke off negotiations and responded by imposing retaliatory tariffs on various American products.

However, last weekend, both neighbors considered that they were approaching a way out of the crisis.

The budget includes, in particular, measures aimed at accelerating investments in strategic sectors, through a tax "mega deduction" to attract investors and the allocation of 25 billion Canadian dollars (about 17.83 billion US dollars) to a new Canadian sovereign wealth fund.

On a macroeconomic level, the government warns that the coming years could be difficult due to the impact of US tariffs and the rising cost of living. Growth is expected to slow to 1% towards the end of 2026, before picking up again in 2028, to 1.7%.

© 2026 AFP

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