Canada Aims to Emerge Stronger from Trade Tensions with US

Canadian Prime Minister Mark Carney announced that Canada is prepared to wait for the right conditions before negotiating a trade deal with the United States. Speaking at the Canada Investment Summit in Toronto, he emphasized that Ottawa wants to emerge from the current trade tensions as a more resilient and independent economy.

The Canadian government plans to reduce its effective tax rate on new investment to 6.4%, which is lower than the US rate. This is part of an expansion of business tax breaks aimed at attracting global capital. Carney stated that the incentive for companies to invest in Canada is now twice as high as it is in the United States.

Carney also announced a plan to privatize four major airports through long-term concessions, which could raise tens of billions of dollars for infrastructure investment. He criticized the 'zero-sum' approach to international economic relationships, arguing that countries seeking to preserve their independence need to work more closely with like-minded partners.