Canada is a 'safe harbour' for global finance, Carney says — SkimNews
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- Mark Carney pitched Canada as a "safe harbour" to more than 100 global investors and sovereign wealth fund representatives managing C$120tn ($86tn; £64tn) in assets at a Toronto investment summit.
- Carney announced plans to privatize operations of four of Canada's largest airports, saying the billions raised would be reinvested in transport infrastructure.
- Carney is selling investors on more than 160 projects spanning defence, energy, mining, AI and infrastructure as he seeks to reduce Canada's reliance on the US.
- New US tariffs on Canadian goods took effect Tuesday while others were lifted, with bans on alcohol and motorcycles due next week, following the collapse of Ottawa-Washington trade talks last month.
- The summit drew CEOs from Deutsche Bank, BlackRock, Blackstone and Bombardier, including Larry Fink and Christian Sewing, for panels and bilateral meetings.
- Dogwood advocacy group led protests outside the opening gala, with Kai Nagata warning that "half the buyers" attending are American and selling public assets "brings us closer to becoming the 51st state."
Why it matters: Carney is betting C$120tn in global capital can be redirected toward Canada as US tariffs escalate, but the summit's heavy American corporate attendance and Dogwood's "great Canadian sell-off" protests highlight a domestic legitimacy problem. Economic analysts named in the source say Canada still needs tax, regulatory and skilled-labour reforms before it can compete with the G7.
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