Carney Says Canada Aims to Emerge Stronger From US Trade War

Canadian Prime Minister Mark Carney addressed hundreds of global investors in Toronto on Sept. 15, 2026, after Washington imposed 50% tariffs on about $20 billion in Canadian goods when talks collapsed last month. Ottawa retaliated; the U.S. has announced more restrictions. Carney said about 80% of Canada-U.S. trade remains tariff-free and that a mutually beneficial deal can be struck when the timing is right. He said Canada will seek long-term operating concessions for its four largest airports while retaining public ownership of land and assets, potentially raising tens of billions for infrastructure. Without naming President Donald Trump, he took aim at transactional, zero-sum trade. When opportunities return, he said, Canada will be an even better partner—stronger, more resilient, more independent. He added that nostalgia is not a strategy and is scheduled to address the European Parliament later Tuesday. What is contested: Carney frames waiting as strategic patience with no on-record rebuttal from Trump in this record. He contrasted a ceremonial key from Fort Smith, Northwest Territories, with gold White House keys from Trump, quoting him: They'll let you in ... Maybe they'll shoot you. That, Carney said, sums up the relationship—in Canada you get the key; in the U.S., they might shoot you.