Canadian PM Carney calls US a key partner despite trade dispute
Canadian Prime Minister Mark Carney said at the Canada Investment Summit in Toronto that the country would remain an important partner of the United States in many key areas, despite the trade dispute between Ottawa and Washington. Euronews reports.
Carney's statement in Toronto
Addressing Americans, Carney said that Canada and the United States would always be neighbours, and that Canada would continue to be the United States' most important partner in many key areas. According to him, the two countries have maintained deep ties even during periods of disagreement.
The head of the Canadian government also said that Canada would be an even better partner when new opportunities for cooperation arise. He described the country as a stronger, more resilient and more independent partner, ready to advance shared economic and security interests.
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Investment commitments
The two-day Canada Investment Summit brought together global investors, executives of Canadian companies and public-sector representatives. The event took place as Canada seeks to diversify its opportunities and attract new investment. The government has set a goal of attracting CAD 1 trillion in investment over the next five years.
Carney's office said that nearly CAD 500 billion in new investment commitments were announced during the summit. These included nearly CAD 100 billion in new capital for Canadian assets, CAD 325 billion in new financing for business and infrastructure, and more than CAD 14 billion in capital for the development of Canadian companies, infrastructure and strategic sectors.
Trade confrontation
Tensions in US-Canada trade relations intensified after talks on an agreement that was meant to help avoid high tariffs on some Canadian goods collapsed. In late August, the United States imposed 50% tariffs affecting Canadian goods worth about CAD 28 billion. In response, Ottawa announced retaliatory tariffs of up to 15%, 25% or 50% on US imports with a total value of approximately CAD 27.6 billion.
