Canada to Reduce Military Spending Dependence on US, Aims for Domestic Industry Growth
Canadian Prime Minister Mark Carney announced plans to decrease military spending reliance on the US, targeting a 70% allocation of defense contracts to domestic firms. The government aims to double non-US exports over the next decade as part of its 'Buy Canadian' policy, alongside diversifying defense partnerships internationally.
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During the Liberal Party's national convention, Prime Minister Mark Carney declared an end to Canada's historical military spending dependence on the US, aiming for 70% of defense contracts to be awarded to domestic firms. Carney emphasized prioritizing Canadian-made materials and labor, supporting the 'Buy Canadian' initiative to strengthen local communities and reduce reliance on foreign markets.
He highlighted the goal to double non-US exports over the next decade. The new Defense Industrial Strategy seeks to diversify military partnerships beyond the US, fostering collaboration with the EU and the UK.
Approximately 69% of Canadian defense production exports currently go to the US and Five Eyes partners. These changes come amid criticism from the US Trade Representative regarding Canada's procurement policies, which are perceived as trade irritants.
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