Canadian PM Carney says we are finding new trade partners, with new opportunities making Canadians less dependent on the US

• Assures a thorough review of the USMCA trade agreement.
• Adds that some of President Trump's recent comments should be viewed within the framework of the USMCA review.
• Cost of relief for consumers on groceries will be CAD 3.1bln in the first year.
• Not planning on calling a snap election.

Mark Carney's comments highlight Canada's strategic pivot towards diversifying trade partners, which could reduce economic dependence on the US. This shift may create opportunities for Canadian exporters and influence market sentiment regarding trade dynamics and fiscal policy. The ongoing review of the USMCA adds a layer of complexity, suggesting potential adjustments in trade negotiations that could impact various asset classes, including fixed income and currencies.