Prime Minister Mark Carney told an audience of business professionals in New York City on Thursday that Canada’s efforts to diversify its trade and wean itself off the U.S. market make it a better ally.
Carney spoke to the Economic Club of New York, outlining Canada’s economic strategy and the progress made so far. It’s part of his government’s efforts to drum up new international investment.
Video: Watch Mark Carney’s speech to the Economic Club of New York
In his speech, he said Canada is weaving a web of international partnerships that is making it a much stronger, more resilient and more independent country.
He said this is good for Canadians and the United States, as it makes Canada a better ally.
Carney added that while Canada and the U.S. have had their differences over the years, the countries have always worked through them because their shared values and common interests run deep.
He listed several areas where Canada and the U.S. should work together, including automobiles and critical minerals.
Carney’s office has not identified the CEOs, entrepreneurs, business leaders and money managers he’s expected to meet with in New York to pitch Canada as an investment destination.
Trip comes ahead of free trade negotiations
The trip comes as Mexican and American officials meet this week to negotiate the Canada-U.S.-Mexico Agreement on trade, better known as CUSMA.
The United States has not officially launched CUSMA negotiations with Canada.
U.S Trade Representative Jamieson Greer said Tuesday there are significant trade issues with Canada, but he has been in regular contact with his Canadian counterparts.
The CUSMA review sets up a three-way choice for each country to make in July. They can renew the deal for another 16 years, withdraw from it or signal both non-renewal and non-withdrawal — which would trigger an annual review that could keep negotiations going for up to a decade.
Greer has suggested the Trump administration is unlikely to rubber-stamp a renewal, and the three countries are preparing for lengthy trade talks.
Fraught trade relations with Trump administration
U.S. President Donald Trump froze trade negotiations with Canada last year because he was angered by an Ontario-sponsored ad quoting former president Ronald Reagan criticizing tariffs.
While the relationship appeared to thaw in March after a meeting between Greer and Canada-U.S. Trade Minister Dominic LeBlanc, no official negotiations have been launched.
Greer said Tuesday most countries “begrudgingly” accepted that some level of tariffs would remain, but Canada is in a “different spot,” and it’s “hard to see where that ends.” He said tariffs would remain on Canada and Mexico, despite the trade agreement.
As the Trump administration continues to signal a turbulent path forward for the bilateral relationship — it paused the long-standing Permanent Joint Board on Defense earlier this month — Carney has focused on securing investment and deepening Canadian ties with other countries.
On Wednesday, Carney announced the federal government is entering into contract negotiations with Sweden’s Saab to buy a fleet of surveillance aircraft for the Royal Canadian Air Force.
This report by The Canadian Press was first published May 28, 2026.