Prime Minister Mark Carney says the federal government will launch a new trade diversification strategy this fall to "strengthen existing relationships and open new markets for Canadian businesses, particularly in Asia."

Carney, who was addressing the Liberal caucus in Edmonton on Wednesday, outlined the government's seven priorities for this fall, which span economic security, reducing the cost of living, building affordable housing, protecting Canadian sovereignty and ensuring sustainable immigration rates.

In his speech, he emphasized that the global economy is not undergoing a transition but "a rupture," as the U.S. fundamentally transforms all of its trading relationships.

"We are over the shock, but we should never forget the lessons: we have to look out for ourselves, and we have

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