Carney warns of tough times ahead in national address as retaliatory tariffs kick in

In a video released on Tuesday — hours after Canada's retaliatory tariffs kicked in — Carney reiterated Canada's plan to respond to the U.S. trade war by striking new trade deals with other countries to become less reliant on the U.S.

"We have everything we need to pivot and prosper," Carney said. "That pivot will come at a cost. There's always a cost to action. But it doesn't come close to the cost of standing still."

The video is the latest in a series Carney launched last spring to update Canadians on government policies and the government's response to U.S. trade actions.

Carney said the goal of those policies is to come out stronger and more resilient so "no country can ever hold us hostage, and that we can live how we want to live."