QUESTION PERIOD — Global Affairs
Free Trade Agreements
June 10, 2026
Senator Moreau, Prime Minister Carney has repeatedly claimed that trade diversification is the cornerstone of his economic strategy, yet new data shows that most of the increase in non-U.S. exports has been driven by soaring gold prices. When gold is removed from the equation, exports to non-U.S. markets are only marginally higher than before the trade issues came about.
At the same time, exports to the United States continue to grow, and Canada remains heavily dependent on the American market. Can you explain what concrete results Canadians have actually received from the Prime Minister’s trade diversification agenda, beyond favourable commodity prices, such as gold?
Senator MacDonald, my understanding is that non-U.S. exports are, according to the government, on track to double over the next decade.
Trade diversification is, as you mentioned, a central pillar of the government’s action. So far, we are pleased to report that there are 12 new strategic agreements that diversify our trading partners, and we are opening markets to our companies and to all Canadians who want to conduct business worldwide.
Senator Moreau, while the U.S. and Mexico have already begun formal CUSMA negotiations, Canada has yet to formally sit down at the bargaining table. Is this government falling behind on the most important trade relationship Canada has, and when will it begin serious negotiations to protect Canadian jobs and exporters?
You’re probably well aware that trade negotiations are not conducted at the public table. Last week, Minister LeBlanc was in Washington to meet his counterpart. We are still open to negotiations. My understanding is that there are communications between both governments, and that is all I can say for the moment.
