Canadian Prime Minister Mark Carney declared in Toronto that Canada intends to emerge stronger and more self-reliant from its ongoing trade war with the United States.
Addressing international investors at the Canada Investment Summit, he emphasised that while Canada and the US will always remain neighbours, the relationship can only thrive when both nations act as true partners respecting each other’s traditions and sovereignty.
Carney stated that when opportunities return, Canada will be an even better partner, more resilient and independent. He outlined Ottawa’s plan to attract private investment through long-term concessions for the operation of Canada’s four major airports, while retaining public ownership of the land and assets.
This initiative, he explained, could generate tens of billions of rupees for reinvestment in transportation and wider infrastructure sectors.
Without naming President Donald Trump directly, Carney criticised what he described as an increasingly transactional and zero-sum approach to international economic relations. He remarked that Canada’s reputation as a reliable and predictable partner has become more valuable in a world where transactions are replacing relationships and win-win outcomes are being replaced by zero-sum calculations.
He further observed that economic integration and national sovereignty are facing growing friction, stressing that nations determined to safeguard their independence must deepen cooperation with like-minded allies. Carney is scheduled to depart for Europe later in the day to address the European Parliament, where he is expected to reinforce these themes.
Trump has repeatedly used tariffs to pressure trade partners, encouraging manufacturers to shift production and investment south of the border. His remarks about incorporating Canada as the 51st US state have added to the strain between the two allies. Despite these tensions, Carney highlighted that approximately 80 per cent of cross-border trade with the US remains tariff-free.
During a fireside chat following his speech, Carney said that a mutually beneficial arrangement is possible and that Canada will be ready to strike a deal when the time is right. He reminded the audience that bilateral trade negotiations collapsed last month, after Washington imposed 50 per cent tariffs on Canadian goods worth about $20 billion, equivalent to nearly ₹1,66,000 crores. Ottawa responded with retaliatory measures, and the US has since introduced further restrictions on Canadian merchandise.
Carney insisted that Canada cannot base its future strategy on nostalgia, declaring that “nostalgia is not a strategy.” He lightened the mood by sharing an anecdote comparing a ceremonial key gifted to him by his hometown of Fort Smith in the Northwest Territories with a box of gold keys to the White House once presented by Trump. Carney recalled Trump joking that if he brought the key, “They’ll let you in,” before adding, “Maybe they’ll shoot you.” Carney concluded, “That sort of sums up the relationship. In Canada, you get the key. In the US, they might shoot you.”
Carney’s remarks underscored Ottawa’s determination to chart a new course, focusing on resilience, independence, and strategic partnerships beyond the United States. His message to investors was clear: Canada is positioning itself as a stronger, more reliable partner in global economic relations, even as it weathers the turbulence of its trade war with Washington.
ANI
