Canadian Prime Minister Mark Carney addressed Australia's Federal Parliament, calling for middle powers like Australia and Canada to form new coalitions based on common values and work together on defence, critical minerals and artificial intelligence. The speech comes as the Iran conflict in the Middle East causes economic impacts in Australia, with urea fertiliser prices jumping $150 per tonne and shipping halted in the Strait of Hormuz. Carney warned that without cooperation between 'strategic cousins', hegemons will increasingly dictate global outcomes.

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