World News | Mark Carney Says Canada Will Emerge Stronger from US Trade War
Get latest articles and stories on World at LatestLY. Canadian Prime Minister Mark Carney stated that Canada aims to emerge from its trade war with the US as a stronger, self-reliant economy. Speaking in Toronto, he emphasised that Ottawa will bide its time for the right conditions before pursuing new trade agreements.
Toronto [Canada], September 16 (ANI): Canadian Prime Minister Mark Carney stated on Tuesday that Canada intends to emerge from its trade war with the United States as a more robust and self-reliant economic power, signalling that Ottawa is prepared to bide its time rather than rush into an agreement with Washington.
Speaking to a large gathering of international investors at the Canada Investment Summit hosted in Toronto, Carney observed that while Canada and the United States will permanently remain neighbours, the alliance functions effectively only when both nations operate as "true partners that respect each other's traditions and sovereignty".
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Elaborating further, he stated, “When those opportunities return, Canada will be an even better partner - stronger, more resilient, more independent.”
Additionally, Carney revealed that Ottawa plans to pursue private investment through long-term concessions for the operation of Canada's four major airports, while maintaining public ownership over the underlying land and assets.
He noted that this initiative has the potential to generate tens of billions of dollars for reinvestment across transportation and broader infrastructure sectors.
Without directly referencing US President Donald Trump, Carney took aim at what he characterised as an increasingly transactional and zero-sum framework governing international economic relations.
“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 remarked.
Carney further noted that economic integration and national sovereignty face mounting friction, asserting that nations seeking to safeguard their independence must cultivate closer cooperation with like-minded allies. He is slated to depart for Europe later on Tuesday, where an address before the European Parliament is scheduled.
Trump has frequently leveraged tariffs to pressure trade partners, encouraging manufacturers to relocate production and investment south of the border, alongside recurrent remarks regarding incorporating Canada as the 51st US state - statements that have further strained relations between the historical allies.
Nevertheless, Carney pointed out that roughly 80 per cent of cross-border trade with the US remains tariff-free.
During a subsequent fireside chat following his address, he stated, “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.”
Bilateral trade negotiations between Canada and the United States broke down last month prior to Washington enacting 50 per cent tariffs on approximately USD 20 billion worth of Canadian goods, which triggered retaliatory measures from Ottawa.
The United States has subsequently implemented further restrictions targeting Canadian merchandise.
Carney emphasised that Canada cannot base its strategic path on reverting to past dynamics, stating, “We know that nostalgia is not a strategy.”
He also made light of the diplomatic friction by recounting an anecdote involving a ceremonial key presented by his hometown of Fort Smith in the Northwest Territories versus a box of gold keys to the White House previously gifted by Trump.
Carney recounted that Trump remarked if he brought the key, “They'll let you in,” before following up with, “Maybe they'll shoot you.”
Carney then remarked, “And that sort of sums up the relationship. In Canada, you get the key. In the US, they might shoot you.” (ANI)
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