In a bold move to reshape its economic strategy, Canada has unveiled a comprehensive federal budget aimed at reducing its reliance on the US market. Announced on November 4, 2025, by Prime Minister Mark Carney, the budget allocates over C$25 billion ($17.8 billion) to support industries impacted by US tariffs and trade disruptions, with an additional C$25 billion pledged by 2030 to enhance trade facilitation. The budget underscores Canada’s commitment to forging new economic and security partnerships beyond its southern neighbor. Carney emphasized that the era of deepening economic ties with the US has ended, stating, ‘Many of our former strengths — based on close ties to America — have become our vulnerabilities.’ The budget is seen as a confidence motion, and its failure to pass could trigger an early election, potentially unsettling markets. Economists like Mesbah Fathy Sharaf of the University of Alberta view the budget as a pragmatic response to a more protectionist global trade environment. Sharaf noted, ‘Canada is clearly looking East and West, such as Europe and the Asia-Pacific, for new opportunities.’ The budget also seeks to accelerate domestic economic activity through financial incentives and expedited project approvals. However, critics like Ron Stagg of Toronto Metropolitan University argue that the measures are largely defensive and short-term. Stagg remarked, ‘The government is hoping to increase economic activity within Canada by providing financial incentives and by fast-tracking approval for projects seen as of national importance.’ Despite the uncertainties, the budget signals Canada’s determination to diversify its economic relationships and assert greater independence on the global stage.