Carney Says Era of Sending '70 Cents of Every Dollar' to U.S. Military Is Over

MONTREAL — Mark Carney declared at the Liberal Party convention in Montreal that Canada will no longer channel the majority of its defense spending to the United States, marking the end of the era when "70 cents of every dollar" went to the U.S. military.

Carney outlined a "Buy Canadian" policy designed to raise the share of domestic firms in defense contracts to 70 percent. He emphasized the need for greater economic sovereignty, citing Canada's historical defense ties with the United States and recent tensions exacerbated during the Trump administration through tariffs on Canadian industries.

The Liberal Party leadership contender also pledged to double Canada's non-U.S. exports over the next decade as part of broader efforts to diversify trade and reduce reliance on its southern neighbor.

Carney's speech was widely circulated on social media and received a standing ovation from attendees at the convention.