Canada's Prime Minister vows stronger partnership with the United States despite new tariffs
Prime Minister Mark Carney told investors that Canada will stay a key U.S. partner even after President Donald Trump announced fresh tariffs.
At a gathering of global investors in Toronto, Prime Minister Mark Carney reaffirmed that Canada will remain the United States' most important partner in several strategic areas, despite President Donald Trump's recent tariff imposition. He described the bilateral relationship as resilient, even when disputes arise, and warned that American trade hostility is now a permanent factor requiring Canadian diversification. Carney reiterated his earlier remarks about a "rupture" in the global order, describing economic integration as being weaponised through tariffs.
He acknowledged that roughly two-thirds of Canadian exports go to the U.S., a market that cannot be easily replaced. The summit aims to draw more than C$1 trillion in investment over five years, focusing on critical minerals, energy and a new low-emission pipeline that would ship at least one million barrels of Alberta oil daily to Asian markets. Carney concluded that Canada is positioning itself as an energy superpower while maintaining close ties with its southern neighbour.
Why it matters
The remarks signal Canada's strategy to balance reliance on the U.S. market with diversification amid rising trade tensions.
How this story developed
- Aug 22 Trump slaps 50% tariffs on Canadian imports, Canada vows matching retaliation
- Sep 3 Apple Maps switched to the new lake name for U.S. users.
- Sep 6 Canada announced it will re‑engage trade talks with the United States under industry safeguards.
- Sep 6 Ontario Premier Doug Ford commissioned a $25,000 bilingual sign affirming the lake’s historic name.
- Sep 7 EU officials and Canadian Prime Minister Mark Carney are preparing a new partnership that would deepen cooperation in commerce, security, space research and critical minerals. Ursula von der Leyen is expected to announce the initiative in her upcoming European Parliament speech, with a summit slated for Canada in October. The talks aim to create a tightly linked alliance that can balance the influence of the United States and China. Meanwhile, President Donald Trump has urged the formation of new alliances to counter perceived threats, without directly naming Canada as a US state.
- Sep 8 Reciprocal 50 percent tariffs took effect on both sides of the border.
- Sep 8 Carney announced a diversification agenda toward Europe and China and a new pipeline linking Alberta.
- Sep 9 U.S. administration announced bans on imports of Canadian dairy products, alcoholic beverages and motorcycles, set to take effect in three weeks.
- Sep 9 Prime Minister Carney publicly demanded an end to meme‑filled attacks amid the trade dispute.
- Sep 9 The United States added motor vehicles to the list of goods barred from import beginning at the end of the month.
- Sep 9 The summit, a flagship event aimed at attracting both domestic and overseas capital, will feature over 160 projects seeking investments from $25 million to several hundred million dollars. Harper, now chair of Alberta Investment Management Corp, will speak after Carney’s opening remarks, underscoring that courting foreign money is a cross-party effort. Other keynote speakers include John Graham of the Canada Pension Plan Investment Board, while senior executives from BlackRock, Barclays and sovereign wealth funds are also expected.
- Sep 11 The Gordie Howe International Bridge was inaugurated as the tariff battle intensified.
- Sep 13 Prime Minister Mark Carney will travel to Strasbourg to speak to the European Parliament after the commission president’s address.
- Sep 14 Stephen Harper was confirmed to give the closing speech.
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