Mark Carney says Canada will emerge stronger from US trade war

Mark Carney told investors Canada would not rush into a trade deal with the United States. He said the tariff dispute was pushing Ottawa towards a stronger, more independent economy.Canadian Prime Minister Mark Carney said on Tuesday that Canada intends to come through its trade war with the United States as a stronger and more independent economy. He signalled that Ottawa was prepared to wait for the right conditions instead of rushing into a deal with Washington.Addressing hundreds of global investors at his Canada Investment Summit in Toronto, Carney said Canada would always remain neighbours with the United States, but added that the relationship worked when both countries engaged as "true partners that respect each other's traditions and sovereignty". He said, "When those opportunities return, Canada will be an even better partner - stronger, more resilient, more independent."Carney also announced that Ottawa would seek private investment through long-term concessions to operate Canada's four biggest airports, while keeping public ownership of the land and assets. He said the plan could raise tens of billions of dollars for reinvestment in transport and other infrastructure.Without naming US President Donald Trump, Carney criticised what he described as an increasingly transactional and zero-sum approach to international economic ties. "Our reputation - as a reliable, predictable partner - has rarely been more valuable in a world where transactions are replacing relationships, and zero-sum is favoured over win-win," he said. Carney added that economic integration and national sovereignty were increasingly in tension, and said countries that wanted to preserve their independence needed to work more closely with like-minded partners. He is due to travel to Europe later on Tuesday, where he is scheduled to address the European Parliament. Trump has repeatedly used tariffs to pressure trading partners and urged manufacturers to move production and investment south of the Canadian border. He has also repeatedly spoken about making Canada the 51st US state, remarks that have added to tensions between the two longtime allies. Still, Carney noted that about 80 per cent of trade with the US remained tariff-free. In a fireside chat after his speech, he said, "There is a mutually beneficial arrangement that can be had. When it is the right time to strike that deal, we'll be ready to do that."Trade talks between Canada and the United States collapsed last month before Washington imposed 50 per cent tariffs on about USD 20 billion in Canadian goods, prompting retaliation from Ottawa. The United States has since announced more restrictions on Canadian products. Carney said Canada could not build its strategy around a return to the old relationship, adding, "We know that nostalgia is not a strategy." He also joked about the strained ties, comparing a ceremonial key he once received from his hometown of Fort Smith in the Northwest Territories with a box of gold keys to the White House that Trump later gave him. Carney said Trump told him that if he brought the key, "They'll let you in," before adding: "Maybe they'll shoot you." Carney then said, "And that sort of sums up the relationship. In Canada, you get the key. In the US, they might shoot you." Overall, Carney's message was that Canada would continue to engage with the US, while preparing for a more resilient and independent economic future. With PTI Inputs- EndsPublished By: India Today Web Desk Published On: Sep 15, 2026 22:56 IST