Canada Aims to Emerge Stronger from Trade War with US

Canadian Prime Minister Mark Carney stated that his country is prepared to wait for the right conditions before rushing into a trade deal with the United States. Speaking at the Canada Investment Summit in Toronto, Carney emphasized that Canada aims to emerge from its trade war with the US as a stronger and more independent economy.

Carney noted that about 80% of trade between the two countries remains tariff-free, but pointed out that the relationship works best when both nations engage as 'true partners' who respect each other's sovereignty. He added that Canada will be an even better partner once it has strengthened its own economy through tax breaks and private investment.

Carney unveiled a major expansion of business tax breaks, which he said would nearly halve Canada's effective tax rate on new investment to 6.4%, less than half the US rate. He also announced plans to seek private investment through long-term concessions for operating four of Canada's largest airports.