TORONTO (AP) – Canadian Prime Minister Mark Carney stated on Tuesday that Canada is determined to come out of its trade dispute with the United States as a more robust and self-reliant economy, indicating that Ottawa is willing to bide its time for the right circumstances rather than rush into an agreement with Washington.
“And to our American friends, let me say this. We will always be neighbors,” Carney told hundreds of global investors gathered in Toronto for his Canada Investment Summit. But he mentioned that the relationship thrives when both nations engage as “true partners that respect each other’s traditions and sovereignty.”
“When those opportunities return, Canada will be an even better partner – stronger, more resilient, more independent,” he said.
Carney also revealed that Ottawa plans to seek private investment through long-term concessions for operating Canada’s four largest airports while keeping public ownership of the land and assets. He noted this plan could generate tens of billions of dollars to reinvest in transportation and other infrastructure.
While not directly naming U. S. President Donald Trump, Carney criticized the increasingly transactional and zero-sum nature of international economic relations that have defined Trump’s trade policies.
“Our reputation – as a reliable, predictable partner – has rarely been more valuable in a world where transactions are replacing relationships, and zero-sum is favored over win-win,” Carney said.
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Carney expressed that economic integration and national sovereignty are often at odds, arguing that nations aiming to maintain their independence need to collaborate more closely with like-minded allies. He is scheduled to travel to Europe later on Tuesday to address the European Parliament.
Trump has consistently employed tariffs as leverage against trading partners and urged manufacturers to relocate production and investments southward across the Canadian border. He has also repeatedly suggested making Canada the 51st U. S. state, remarks which have further strained ties between the long-standing allies.
However, Carney pointed out that around 80% of trade with the U. S. remains tariff-free.
“There is a mutually beneficial arrangement that can be had,” Carney mentioned during a fireside chat following his speech. “When it is the right time to strike that deal, we’ll be ready to do that.”
Trade discussions between Canada and the United States fell apart last month before Washington imposed 50% tariffs on approximately $20 billion in Canadian goods, prompting retaliation from Ottawa. The United States has since announced additional restrictions on Canadian products.
Carney indicated Canada can’t base its strategy on returning to past relationships. “We know that nostalgia is not a strategy,” he said.
He also lightheartedly remarked about the uneasy nature of U. S.-Canada relations by contrasting a ceremonial key he once received from his hometown of Fort Smith in Northwest Territories with a box of gold keys given by Trump later on.
Carney recounted how Trump told him if he brought the key, “They’ll let you in,” before adding: “Maybe they’ll shoot you.”
“And that sort of sums up the relationship,” Carney explained. “In Canada, you get the key. In the U. S., they might shoot you.”
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