The Globe and Mail reports in its Thursday edition that Prime Minister Mark Carney says his government's fall budget will pledge to double exports to non-U.S. markets over the next decade, shift the focus of Canada's climate and immigration policies, and make spending cuts to boost investment in major projects. The Globe's Bill Curry writes that Mr. Carney told students Wednesday at the University of Ottawa that the Nov. 4 budget will demand sacrifice as the country responds to the unprecedented pressures facing the Canadian economy in light of U.S. President Donald Trump's protectionist trade policies. He said the U.S. has fundamentally changed its approach to trade, raising its tariffs to levels last seen during the Great Depression. As a result, he said, Canada's economic strategy must change dramatically, to focus on diversifying trade and building goods at home. Economists expect the budget will feature much larger deficits than the Liberals projected during the April election campaign. Mr. Carney's speech hinted that significant deficits are in fact coming. The budget will support a Buy Canadian policy, particularly for Canadian steel, aluminum, lumber, manufactured goods and technology for Canadian projects.
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