Prime Minister Carney’s message today was largely expected

The warning signs have been there for months, especially as he increased his international travel


We’ve also reached this point because he has not delivered on his key promise to secure a deal with the United States—a commitment that was both economically important and politically central. In that context, suggesting that the United States is no longer an ally is, quite frankly, hard to believe.

What we’re now seeing is a clear weakening of CUSMA as a reliable trade framework. The possibility of a direct deal between the United States and Mexico—leaving Canada on the sidelines—is no longer far-fetched. That would be a major shift for how trade works in North America.

For the agri-food sector, the risks are real. About 75% of Canada’s agri-food exports go to the United States. That has worked well for years, but it also means we are highly exposed. Diversifying sounds good in theory, but in practice it takes time, money, and new infrastructure. In the meantime, farmers, processors, and distributors would feel the pressure through tighter margins.

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