Canada PM Carney says nostalgia is not a strategy in trade war

Prime Minister Mark Carney told a gathering of global investors at the Canada Investment Summit in Toronto that Ottawa intends to emerge from its trade conflict with the United States as a stronger, more self‑reliant economy. He said Canada would hold out for terms that benefit the country rather than rush into a pact with Washington, stressing the need to build sustainable relationships based on mutual respect for traditions and sovereignty.

Carney highlighted that, when opportunities arise, Canada will be an improved partner—stronger, more resilient, and more independent. He underlined the importance of true partners and the value of predictable, reliable cooperation in a world where transactions increasingly replace relationships and zero‑sum thinking dominates.

During the summit, the prime minister unveiled plans to attract private capital through long‑term operating concessions for the country’s four largest airports. Public ownership of the land and underlying assets would remain, while the concessions could raise tens of billions of dollars for infrastructure projects.

Carney also criticized the U.S. trade strategy, noting the frequent use of tariffs, attempts to shift manufacturing across the southern border, and remarks that Canada could become the 51st American state. He pointed out that roughly 80 percent of bilateral trade remains tariff‑free, but that formal negotiations collapsed last month when Washington imposed 50 percent tariffs on about $20 billion of Canadian imports, prompting Ottawa’s countermeasures. He concluded that nostalgia is not a strategy, offered a light‑hearted comparison of keys given by his hometown and the White House, and said Canada would be ready to strike a deal when the time is right.