Carney hopes trade war with US will make Canada stronger and more resilient

TORONTO (AP) — Canadian Prime Minister Mark Carney said Tuesday that Canada intends to emerge from its trade war with the United States as a more resilient and independent economy, and that future cooperation with Washington must be based on respect for each country’s sovereignty.

“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 said the relationship works when the two countries 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 announced that Ottawa will seek private investment through long-term concessions to operate Canada’s four largest airports, while retaining public ownership of the land and assets. He said the plan could raise tens of billions of dollars to reinvest in transportation and other infrastructure.

Without naming U.S. President Donald Trump, Carney then took aim at the increasingly transactional and zero-sum approach to international economic relationships that has characterized 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.

Carney said economic integration and national sovereignty are increasingly in tension, arguing that countries seeking to preserve their independence need to work more closely with like-minded partners. He heads to Europe later Tuesday, where he is scheduled to address the European Parliament.

Trump has repeatedly used tariffs to pressure trading partners and has pressed manufacturers to shift production and investment south of the Canadian border.

But he noted that about 80% of the trade with the U.S. remains tariff-free.

“There is a mutually beneficial arrangement that can be had,” Carney said in a fireside chat after his speech. “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% tariffs on about $20 billion in Canadian goods, prompting retaliation from Ottawa. The United States has since announced additional restrictions on Canadian products.