Carney Reaffirms Canada's Crucial Role as Partner to US Amid Trade Tensions

Canada's Prime Minister Mark Carney has reaffirmed the country's importance as a partner to the United States, even in times of disagreement. Speaking at the Canada Investment Summit on Tuesday, Carney emphasized that 'these arrangements work when we engage as true partners that respect each other's traditions and sovereignty.'

Carney's comments come just hours after President Donald Trump imposed new tariffs on Canada. The prime minister acknowledged the impact of US trade hostility but stressed the need for Canada to diversify its economy, citing the country's heavy reliance on exports to the US as a 'new normal.'

Canada Investment Summit aims to attract over Can$1 trillion in investment over the next five years, with key sectors including critical minerals and energy. Carney highlighted plans to build a new pipeline to the Pacific coast, which would carry at least one million barrels of low-emission Alberta oil per day to Asian markets.

Carney reiterated that Canada will remain the US's most important partner in 'many key areas,' but also acknowledged the importance of the US economy for Canada, with roughly two-thirds of all Canadian exports heading south of the border. The prime minister has warned that this dependence cannot be easily replaced.