Carney's Ambitious Plan to Reshape Canada's Economy Amid Trade War

Canadian Prime Minister Mark Carney is facing an economic reality after walking away from trade talks with US President Donald Trump. The new 50% tariffs on $20 billion of Canadian goods will significantly impact small- and medium-sized businesses, including family firms.

The jobs data in Canada's economy suggests that sectors like auto parts and forestry are already hurting. Carney has an urgent task: reshaping the economy to account for a hostile US by harnessing political goodwill to push through measures that might otherwise lack broad support.

These measures include pro-business tax and regulatory reforms, privatizing public assets, and spending billions in government money to get Canada's natural resources to foreign markets faster. To fund this transition, Carney plans to convince deep-pocketed investors that Canada is a place where they can find attractive returns.