Carney says Canada can wait for the right conditions in Trump trade war and emerge stronger

TORONTO (AP) – Canadian Prime Minister Mark Carney remarked Tuesday that Canada intends to emerge from its trade war with the United States as a more resilient and independent economy, signaling that Ottawa is prepared to wait for the right conditions rather.

What happened

"And to our American friends, let me say this. We will always be neighbors, " Carney informed hundreds of global investors gathered in Toronto for his Canada Investment Summit. But he remarked the relationship works when the two countries engage as "true partners that respect each other's traditions and sovereignty."

"When those opportunities return, Canada will be an even better partner – stronger, more resilient, more independent, " he remarked.

As Canada competes with the United States for global capital, carney additionally unveiled a major expansion of business tax breaks that the administration notes will almost halve Canada's effective tax rate on new investment to 6.4%, less than half the U.S. Rate.

The bottom line

Taken together, the developments around carney says Canada can wait for the right conditions in Trump trade point to a situation that is still moving, and the coming days should bring more clarity.