Prime Minister Mark Carney told a gathering of global investors in Toronto on Tuesday that Canada intends to come out of its ongoing trade dispute with the United States as a stronger and more self-reliant economy, while announcing a plan to bring in private investment to run the country’s four largest airports.
Speaking at the Canada Investment Summit, Carney said Ottawa will seek long-term concessions from private operators to manage the airports, though the federal government would retain public ownership of the underlying land and assets. He said the arrangement could generate tens of billions of dollars that would be reinvested into transportation infrastructure and other projects.
The announcement came as Carney addressed hundreds of investors on Canada’s economic direction amid strained relations with Washington. He said Canada’s economic relationship with the United States remains valuable but argued the country cannot build its long-term strategy around a return to the previous status quo.
Trade Tensions Frame the Investment Pitch
Carney’s remarks followed the collapse of trade talks between Canada and the United States last month, after which Washington imposed tariffs of 50% on about $20 billion worth of Canadian goods. Ottawa responded with retaliatory measures, and the United States has since introduced further restrictions on Canadian products.
Despite the escalation, Carney noted that roughly 80% of trade between the two countries remains tariff-free, and said a mutually beneficial trade arrangement with Washington is still possible when conditions allow. He said Canada would be ready to negotiate a deal when the timing is right, but stressed that Ottawa was not going to rush into an agreement.
Positioning Canada as a Reliable Partner
Carney told the summit that Canada’s reputation as a predictable and reliable economic partner has become more valuable at a time when international relationships are increasingly transactional. He argued that as economic integration and national sovereignty come into greater tension globally, Canada needs to deepen ties with other like-minded economies rather than depend solely on its traditional trading relationship with the U.S.
He also said that when conditions do allow for renewed cooperation with the United States, Canada would enter that relationship from a stronger position — more resilient and more economically independent than before.
Carney is scheduled to travel to Europe later this week, where he is expected to address the European Parliament as part of efforts to expand Canada’s international economic partnerships.
This article is for informational purposes only and does not constitute financial, investment, or legal advice. Consult a licensed financial advisor before making investment decisions.
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