Canadian PM Carney says he was prepared for Trump ordering invasion

"I think you have a responsibility in these roles to look at extreme tail risk. That's just risk management. That's not a base case," Carney told the Times, arguing that "it would be irresponsible not to."

Carney admitted in a video statement earlier this month that Canada had come to overly rely on its economic relationship with the U.S. in recent decades.

"The past 40 years has been a period of deeper economic integration with the United States. Truth is, it was easy business, but it meant we relied too much on one economic partner. It's clear that time is over," Carney said.

"This is why our plan, since I came into office, has been development and diversification, not denial, waiting to go back to some good old days and not continued dependence."

"If Europe does that with a bad intention - if it's a good intention, that's fine - if it's a bad intention, we'll put very heavy tariffs on Europe."