Canada's Carney Challenges U.S. Trade Pressure

(MENAFN) Canadian Prime Minister Mark Carney declared Wednesday that Ottawa will press ahead with its global investment drive regardless of mounting American trade tensions, pointing to record capital inflows and a rapidly expanding web of international economic partnerships.

"We're creating new opportunities for Canadian businesses through more than 20 economic and security partnerships that we've signed on five continents in less than a year," Carney said at an aerospace industry event in Mirabel, Quebec. He highlighted active negotiations toward free trade agreements with India, Thailand, and the Philippines, as well as with ASEAN member states and the four nations of the South American trade bloc Mercosur — Argentina, Brazil, Paraguay, and Uruguay.

On the investment front, the Prime Minister offered a striking benchmark. "This year, foreign direct investment into Canada is already at its highest level in nearly two decades," he said, adding: "It's running at twice the rate on a per capita basis as our nearest G7 competitor, and we're just getting started."

When pressed on how Canada continues to attract capital against a backdrop of global economic uncertainty, Carney was unequivocal. "It's the moment to be bold, to build big, to have confidence, move forward, open up. That's what we're doing," he said, before delivering a pointed jab at Washington: "We'll continue to get that investment despite the efforts of the Americans."

Carney's upbeat message, however, landed alongside a potentially damaging headline — Honda's reported decision to indefinitely shelve a $15-billion electric vehicle manufacturing plant in Ontario, a development that risks undermining the government's pro-investment narrative. When asked whether his administration had been notified of the automaker's move, Carney remained measured. "We're in constant contact with all the major automakers," he said. "And that includes Honda, so we're in discussions with them constantly," he added.

The Mirabel event, centered on Canada's aerospace industry, also yielded a major commercial milestone. Carney formally welcomed a deal between Airbus and AirAsia for the purchase of 150 Airbus A220-300 aircraft — described in a government statement as "the largest order for a Canadian-designed and produced aircraft in history." Every plane in the order will roll off the production line at Airbus Canada's Mirabel facility, a hub employing over 4,600 workers and the company's most expansive commercial aircraft manufacturing site outside of Europe.

The Prime Minister noted that Canada's aerospace sector surfaced in virtually every bilateral meeting during a recent visit to Armenia, where he engaged European leaders on issues spanning defense, civilian aviation, and space.

Carney closed on a lighter note when journalists turned to hockey. Asked about the significance of the Montreal Canadiens' playoff run, he quipped: "How important is the Habs run? I mean, there's not much more important," adding that he looks forward to "calling the president of the United States and sending him his Habs jersey."

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