Canadian Prime Minister Mark Carney told global investors at an investment summit in Toronto on Tuesday that Canada can emerge from 
Donald Trump's trade war with a stronger, more independent economy. Speaking at his Canada Investment Summit, Carney signalled that Ottawa is prepared to wait for the right conditions rather than rush into a deal with Washington, PBS NewsHour reported. He also recounted how Trump gave him a gold key to the White House, an exchange he said "sort of sums up" the Canada-US relationship.
What did Carney say about a deal? Trade talks collapsed last month before Washington imposed 50% tariffs on about $20 billion in Canadian goods, prompting retaliation from Ottawa, PBS NewsHour reported. Carney said about 80% of trade with the U.S. remains tariff-free, and in a fireside chat after his speech said "there is a mutually beneficial arrangement that can be had." "When it is the right time to strike that deal, we'll be ready to do that," he said. He also said, "We know that nostalgia is not a strategy."
How did he describe the relationship? Without naming Trump, Carney took aim at the transactional, zero-sum approach to economic relationships that, PBS NewsHour reported, has characterised Trump's trade policies. "Our reputation — as a reliable, predictable partner — has rarely been more valuable in a world where transactions are replacing relationships, and zero-sum is favored over win-win," he said. The two countries "will always be neighbors," Carney said, but the relationship works when they engage as "true partners that respect each other's traditions and sovereignty."
What else did he announce? Carney said Ottawa will seek private investment through long-term concessions to operate Canada's four largest airports while keeping public ownership of the land and assets, a plan he said could raise tens of billions of dollars for transportation and other infrastructure. He was due to head to Europe later Tuesday to address the European Parliament.
What was the story of the key? Carney contrasted a ceremonial key from his hometown of Fort Smith, Northwest Territories, with a box of gold keys to the White House that Trump later gave him. Carney said the president told him he could bring the key and would be let into the building, but that "maybe they'll shoot you," the BBC reported. "In Canada, you get the key. In the U.S., they might shoot you," Carney said.
Figures referenced: Donald Trump. — JudgeMarket.
