OTTAWA — Canadian Prime Minister Mark Carney hosted the inaugural Canada Investment Summit in Toronto on Tuesday, gathering approximately 100 money managers from around 25 countries to advocate for increased investment in Canada. The event was part of a broader effort to position Canada as a stable and reliable alternative amid escalating trade tensions with the United States.

Carney sought to reassure investors of Canada’s economic resilience and long-term prospects, particularly as the country navigates ongoing disputes with the U.S. administration under President Donald Trump. The summit comes after the breakdown of recent trade negotiations, which resulted in the United States imposing 50 percent tariffs on $20 billion worth of Canadian goods, prompting retaliatory tariffs from Canada and a U.S. ban on certain Canadian products.

Addressing the audience, Carney emphasized the importance of maintaining strong economic ties with the United States, stating that Canada will remain its neighbor and most significant partner in many sectors. “These arrangements work best when we engage as true partners that respect each other’s traditions and sovereignty,” he said. “When those opportunities return, Canada will be an even better partner.”

Despite current tensions, Carney highlighted Canada’s success in securing trade agreements with other countries and its reputation as a dependable and predictable partner. He noted that Canada’s abundant natural resources and stable institutions contribute to its “most valuable asset—trust.” The country was recently ranked by a London-based Global Infrastructure Association survey as the world’s most attractive market for infrastructure investment, surpassing the United States and Germany.

Carney set a high target for foreign investment, aiming to attract $1 trillion over the next five years, with a focus on infrastructure projects. The summit featured a 66-page catalogue outlining 167 potential investments, including initiatives in liquefied natural gas and efforts to develop the northern Manitoban port of Churchill into a year-round operation. However, some of the proposed projects, particularly those with political significance like the Churchill port, face challenges in attracting investors.

While airport privatization was notably absent from the catalog, Carney indicated on Tuesday that the government plans to sell operating concessions for the country’s four largest airports—Toronto, Vancouver, Montreal, and Calgary—while retaining ownership of the underlying land and facilities. He suggested Canadian pension funds would be preferred buyers.

The summit also featured former Conservative Prime Minister Stephen Harper delivering closing remarks, signaling bipartisan support for the investment agenda. However, not all responses were positive. On Monday evening, protesters marched through downtown Toronto to express opposition to private airport sales, the role of billionaires and corporate executives, and resource development on Indigenous lands.

Following the summit, Carney stated that investor interest in Canada remains strong, noting, “We didn’t cross an ocean to make our case. The world came to us to peer in our shop window.” The event underscored Canada’s ambitions to diversify its economic partnerships amid growing uncertainty in its relationship with the United States.