Carney’s speech to signal plan to ramp up exports outside the United States

By Canadian Press on October 22, 2025.

OTTAWA — Prime Minister Mark Carney is expected to signal in a speech tonight that Canada is planning to significantly increase non-U.S. exports over the next decade to make the economy less reliant on its largest trading partner.

A government source familiar with details of the speech says Carney will reveal that the coming fall budget will include a new immigration plan, a talent attraction strategy and a climate competitiveness strategy.

Carney is set to address a group of university students in the nation’s capital — including many young people who have yet to join the full-time workforce and could feel the effects of the budget for years to come.

The federal government has indicated the Nov. 4 budget will include spending restraints and new funds for major initiatives.

Conservative Leader Pierre Poilievre planned to meet privately with Carney today to discuss the fiscal blueprint.

The minority Liberal government is three votes shy of being able to pass measures on its own and will need either the support or abstention of members of other parties to pass the budget.

This report by The Canadian Press was first published Oct. 22, 2025.

The Canadian Press