Carney Courts Global Investors in Bid to Counter Trump’s Trade Pressure

TORONTO — As U.S. President Donald Trump pushes for manufacturing and capital to move south of the border, Canadian Prime Minister Mark Carney is making a concerted effort to attract billions in investment flowing north. Approximately 300 chief executives and senior leaders from the world’s largest investment firms are gathering in Toronto this week for the Canada Investment Summit, representing collectively more than $120 trillion in managed assets.

The summit, hosted at Toronto’s upscale Four Seasons in Yorkville, highlights Canada’s strategy to reduce its economic reliance on the United States. Carney argued that the country offers resources and opportunities beyond its geographic proximity to its southern neighbor.

“Canada is about so much more than being next to the United States,” Carney said during a press conference in Banff, Alberta. “We have what the world wants.” He pointed to the nation’s abundant energy and critical-mineral reserves, a highly educated labor force, and trade pacts that provide access to roughly 1.5 billion consumers globally.

Carney emphasized that the strong turnout indicates genuine interest in Canada on its own terms. “They are coming because of Canada,” he stated. “If they wanted to go to the United States, they would go to the United States.”

The prime minister’s background positions him uniquely for these discussions. Having led the central banks of both Canada and England, followed by 13 years at Goldman Sachs and leadership roles at Bloomberg L.P. and Brookfield Asset Management, Carney is deeply embedded in the global financial community. On Monday, he is scheduled to hold bilateral meetings with executives from Macquarie Group and Singapore’s Temasek Holdings.

A Canadian official described the event as the largest assembly of investment decision-makers in the country’s history. However, the official noted that while the summit is significant, it is not expected to yield an immediate flood of finalized deals, with major outcomes likely emerging over the next 12 to 18 months. The official spoke on condition of anonymity due to restrictions on public commentary.

The investment push comes at a pivotal moment for Canadian-U.S. relations. Trade negotiations collapsed on August 21, prompting Trump to impose 50% tariffs on approximately $20 billion in Canadian goods. Canada responded with retaliatory measures, and Washington subsequently escalated the conflict by banning certain Canadian imports and restricting access to long-term U.S. government contracts.

These tariff actions and efforts to relocate manufacturing are undermining one of Canada’s primary attractions for foreign investors: reliable access to the vast U.S. market through continental free trade. In response, Carney and business leaders are urging global investors to look past the current trade war and increase their bets on Canada.

Carney is drawing a sharp contrast between the two nations, presenting Canada as a predictable, rules-based jurisdiction compared to an increasingly uncertain United States. He told attendees that Canada respects the rule of law and reliability, describing the combination as “pretty rare in the world” and highly attractive.

Reinforcing this message on Sunday, Carney told Canadian business leaders that the nation’s most valuable asset is trust, which he noted “cannot be found on any balance sheet.” John Graham, CEO of CPP Investments, which is co-hosting the summit, observed that the global conversation regarding Canada is shifting.

The event aims to connect global capital, including major Canadian pension funds, with key sectors such as critical minerals, technology, defense, advanced manufacturing, and energy. Carney’s private sessions will be customized to align with specific investor portfolios and project interests.

BlackRock CEO Larry Fink and Blackstone President Jon Gray will lead a public discussion on global capital, with former Prime Minister Stephen Harper scheduled to close the summit. Following the Toronto event, Carney will travel to Europe to address the European Parliament, as Canada seeks to strengthen its strategic partnership with the EU.