Canada invests C$4.7 billion in railway car production
Canada has announced an investment of C$4.7 billion, or about US$3.4 billion, in the production of 313 railway cars. They will be manufactured in Thunder Bay, Ontario, as part of the modernization of Canada’s railway system.
Production in Canada
Prime Minister Mark Carney called the project a “historic investment” and a step toward strengthening domestic manufacturing. According to him, Canadian workers and materials, including steel, will be involved in the project. The cars, which were previously produced in the United States, will now be built in Canada.
As Anadolu Agency reports, Canada exports approximately C$400 billion to the United States annually. This accounts for about 65–75% of the country’s total exports.
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Trade negotiations
Last week, trade negotiations between Canada and the United States collapsed after Carney instructed Canadian negotiators to return from Washington. The prime minister said that the US side had demanded concessions that, in his view, could harm Canada’s sovereignty. In particular, this concerned a requirement for US approval before Canada concludes future trade agreements with other countries.
On September 14–15, Canada also plans to hold an investment summit focused on energy, critical minerals, defense and advanced technologies. According to The Globe and Mail, about 250 executives from global companies representing assets worth nearly US$120 trillion are expected to attend the event.
Statements regarding the US and Russia
Responding to remarks by US Commerce Secretary Howard Lutnick, who accused Carney of derailing the negotiations for political gain, the Canadian prime minister said that he engages directly with the US president, rather than unelected officials. Commenting on the invitation of Vladimir Putin, president of the aggressor state Russia, to the upcoming G20 summit, Carney said that the host country can invite whomever it wants. According to him, Canada’s message to Putin will be simple: “Get out of Ukraine.”
