Mark Carney warns of economic costs in shifting away from U.S. market

Mark Carney warned that shifting Canada's economy away from the U.S. market would incur costs for Canadians. This warning follows an OECD report that downgraded Canada's expected economic growth for 2026 and 2027 by 25% compared to its previous June report. The OECD predicts Canada's economy will grow by 0.9% in 2026 and 1.3% in 2027, while predicting the U.S. economy will grow by 2.2% and 2.1% in those years, respectively.

The OECD attributes Canada's slower predicted growth to the impact of U.S. tariffs. The report also noted that the U.S. economy is 13 times the size of Canada's, suggesting the larger economy is better equipped to handle a trade war.

Mark Carney and the Fraser Institute are providing reports on trade reliance, infrastructure, and how U.S. market size influences Canadian export diversification.