Canadian PM Mark Carney is addressing the Council on Foreign Relations right now. He opened by describing the very positive relationship Canada and the US shared -- until now.
And looking at Trump impacts on the global geopolitical landscape.
"So, what do we do about it? We think we can thrive for three reasons"
1.) we have what the world wants:
- energy
- we are top % in world's critical minerals
- we are a leading developer of AI and quantum talent
- we have sophisticated pension funds and investors
- we have a govt that can act decisively
2.) Our public square is loud, diverse and free
3.) We recognize what's going on. A rupture. Sharp change.
- build strength at home, cut taxes, increased X-province trade, doubling defense spending, especially in AI
- defend out values
- build alliances abroad
- diverse trade agreements, espec. w/EU
- joining SAFE -- EU defense
- comprehensive approach w/Mexico trade
- we are largest contributor per capita to Ukraine
- support 2-state solution in ME
- forming buyers' clubs for REEs & critical minerals
MORE
And looking at Trump impacts on the global geopolitical landscape.
"So, what do we do about it? We think we can thrive for three reasons"
1.) we have what the world wants:
- energy
- we are top % in world's critical minerals
- we are a leading developer of AI and quantum talent
- we have sophisticated pension funds and investors
- we have a govt that can act decisively
2.) Our public square is loud, diverse and free
3.) We recognize what's going on. A rupture. Sharp change.
- build strength at home, cut taxes, increased X-province trade, doubling defense spending, especially in AI
- defend out values
- build alliances abroad
- diverse trade agreements, espec. w/EU
- joining SAFE -- EU defense
- comprehensive approach w/Mexico trade
- we are largest contributor per capita to Ukraine
- support 2-state solution in ME
- forming buyers' clubs for REEs & critical minerals
MORE
Carney/2
"Old Multilateralism" -- how we used to work.
Now, substantial change underway, espec. for REEs, essential minerals, energy.
When you think about Canada, think of a strong soveriegn nation.
We understand what's going on. We have the resources the world needs. We're a reliable partner...with any part of the world.
"Old Multilateralism" -- how we used to work.
Now, substantial change underway, espec. for REEs, essential minerals, energy.
When you think about Canada, think of a strong soveriegn nation.
We understand what's going on. We have the resources the world needs. We're a reliable partner...with any part of the world.
Carney/3
LIVE now Carney is talking on stage w/CFR Pres. Froman
Q - 2/3rds Canadian population lives w/in 100 km of US border -- how much can you reorient economy?
Carney: 1st, recog. the need to do it. To be masters in our own house.
Don't want to look at Truth Social daily to see changes in US poilicy
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LIVE now Carney is talking on stage w/CFR Pres. Froman
Q - 2/3rds Canadian population lives w/in 100 km of US border -- how much can you reorient economy?
Carney: 1st, recog. the need to do it. To be masters in our own house.
Don't want to look at Truth Social daily to see changes in US poilicy
MORE
Carney/4 LIVE CFR
We need to double avail housing in Canada. Investing $60B in housing now.
Building new ports and energy depots.
And ^ing defense and AI spending.
All will create jobs, build economy.
We needed the shock (from US) to get moving on all of it.
MORE
We need to double avail housing in Canada. Investing $60B in housing now.
Building new ports and energy depots.
And ^ing defense and AI spending.
All will create jobs, build economy.
We needed the shock (from US) to get moving on all of it.
MORE
Carney/5 LIVE CFR
Carney refers to 6'ed defense spending as "dual use" -- what mean?
He says will be 5% of GDP, and 1.5% is dual use, meaning has other benefits for domestic econ.
Same in NATO. ^spending on cyber, AI, critical minerals
Our defense has spillover domestic benefits.
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Carney refers to 6'ed defense spending as "dual use" -- what mean?
He says will be 5% of GDP, and 1.5% is dual use, meaning has other benefits for domestic econ.
Same in NATO. ^spending on cyber, AI, critical minerals
Our defense has spillover domestic benefits.
MORE
Carney/6 LIVE CFR
At a time when the nature of security is changing worldwide, it plays to Canada's strengths.
Froman: What mean if US and Canada play be different econ rules?
Carney: EU is rule-based system. We have free trade agreement w/EU. Ditto other trade agreements.
MORE
At a time when the nature of security is changing worldwide, it plays to Canada's strengths.
Froman: What mean if US and Canada play be different econ rules?
Carney: EU is rule-based system. We have free trade agreement w/EU. Ditto other trade agreements.
MORE
Carney/7 LIVE CFR
Froman: Canada worked w/US on China. Now?
Carney: We can improve, being clearer about where we engage, w/respect to China. Commodities? energy? manufacturing? Where are guard rails.
And what do you ignore, avoid?
W/China, they are deeply engaged on climate, especially engineering solutions.
MORE
Froman: Canada worked w/US on China. Now?
Carney: We can improve, being clearer about where we engage, w/respect to China. Commodities? energy? manufacturing? Where are guard rails.
And what do you ignore, avoid?
W/China, they are deeply engaged on climate, especially engineering solutions.
MORE
Carney/8 LIVE CFR
China is energy superpower. Canada cares about climate deeply. So can engage w/China on that.
Froman: G7 & G20 -- where going?
Carney: Focus on small # issues. Infrastructure for global economy, leveraging of $s for development. It's good for the world.
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China is energy superpower. Canada cares about climate deeply. So can engage w/China on that.
Froman: G7 & G20 -- where going?
Carney: Focus on small # issues. Infrastructure for global economy, leveraging of $s for development. It's good for the world.
MORE
Carney/9 LIVE CFR
Q - Canada recog'ed Palestinian state. What accomplish?
Carney - we have been seeing prospects peace receding. We want a Zionist & Palestinian States. Israel says never be Pales. State. We want to keep 2-state front & center, w/other key nations. Create ceasefire & peace.
MORE
Q - Canada recog'ed Palestinian state. What accomplish?
Carney - we have been seeing prospects peace receding. We want a Zionist & Palestinian States. Israel says never be Pales. State. We want to keep 2-state front & center, w/other key nations. Create ceasefire & peace.
MORE
Carney/10 LIVE CFR
Necessary push 2-state solution, ensuring right of self-determination for Palestinians.
Q - how deal w/aging socieity, demographically?
Carney: Maximize labor force partic., especially female. Deploy AI and tech to offset declining workforce. By next decade AI will ^ productivity by 3 or 4%
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Necessary push 2-state solution, ensuring right of self-determination for Palestinians.
Q - how deal w/aging socieity, demographically?
Carney: Maximize labor force partic., especially female. Deploy AI and tech to offset declining workforce. By next decade AI will ^ productivity by 3 or 4%
MORE
Carney/11 LIVE CFR
Q - refugees policy, Canada?
Carney: we aren't backtracking. We've taken 300,000 Ukrainians into Canada. High levels asylum-seekers from all over wld. We control borders, but also process claims in timely fashion. Boosting that now.
MORE
Q - refugees policy, Canada?
Carney: we aren't backtracking. We've taken 300,000 Ukrainians into Canada. High levels asylum-seekers from all over wld. We control borders, but also process claims in timely fashion. Boosting that now.
MORE
Carney/12 LIVE CFR
Q - values in intl relations for Canada, vs Trump/USA "America First"
Carney: We believe in the UN Charter, self-determination, territorial integrity. drives our approach in Ukraine, Palestine. Duty to provide paths to peace. Situation in Palestine is horrific and fluid.
MORE
Q - values in intl relations for Canada, vs Trump/USA "America First"
Carney: We believe in the UN Charter, self-determination, territorial integrity. drives our approach in Ukraine, Palestine. Duty to provide paths to peace. Situation in Palestine is horrific and fluid.
MORE
Carney/13 LIVE CFR
We would hope there would be convergence with the US, in outcomes consistent w/our values.
Q - Canada send troops to Ukraine?
Carney: We are very active with troops in Latvia, Poland. We'll see, in terms of Ukraine. A signature from Putin (for peace) is not worth anything.
MORE
We would hope there would be convergence with the US, in outcomes consistent w/our values.
Q - Canada send troops to Ukraine?
Carney: We are very active with troops in Latvia, Poland. We'll see, in terms of Ukraine. A signature from Putin (for peace) is not worth anything.
MORE
Carney/15 LIVE CFR
Q - What is strategy for middle powers to offset US?
Carney: Core of our strat is consistent w/our values. The Public Square is loud, diverse & free in Canada -- relevance of that has increased.
C is a very diverse country. 1 of 2 residents of Toronto are born outside C.
MORE
Q - What is strategy for middle powers to offset US?
Carney: Core of our strat is consistent w/our values. The Public Square is loud, diverse & free in Canada -- relevance of that has increased.
C is a very diverse country. 1 of 2 residents of Toronto are born outside C.
MORE
Carney/16 LIVE CFR
We create a society people can live in, universities they can attend -- from all over the world. We encourage ambition.
Q - 2dary sanctions on Russia?
Carney: 2-dary sanctions can be powerful. Espec. in financial sector. (Not supported by Trump) Really isolates a target.
MORE
We create a society people can live in, universities they can attend -- from all over the world. We encourage ambition.
Q - 2dary sanctions on Russia?
Carney: 2-dary sanctions can be powerful. Espec. in financial sector. (Not supported by Trump) Really isolates a target.
MORE
Carney/17 LIVE CFR
The US has raised issue several times. Our view on 2-dary sanctions is we should go quickly to that.
Q - worry about impact on Canadian $?
Carney: No. Make all aspects of 2-dary sanctions clear, would reorganize fiscal relations.
Q - Demand Hamas must disarm and not be in Palestinian govt. How do that?
MORE
The US has raised issue several times. Our view on 2-dary sanctions is we should go quickly to that.
Q - worry about impact on Canadian $?
Carney: No. Make all aspects of 2-dary sanctions clear, would reorganize fiscal relations.
Q - Demand Hamas must disarm and not be in Palestinian govt. How do that?
MORE
Carney/18 LIVE CFR
Disarmament and elimination of Hamas is condition for peace. Who do it? Many ideas, from other Arab states. Canada would be party to multinat forces to enforce peace.
Conditions for free elections are many. Time line uncertain. Conditions do not exist now.
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Disarmament and elimination of Hamas is condition for peace. Who do it? Many ideas, from other Arab states. Canada would be party to multinat forces to enforce peace.
Conditions for free elections are many. Time line uncertain. Conditions do not exist now.
MORE
Carney/19 LIVE CFR
Q - Canada doesn't have the opportunities that Silicon Valley does? Why drive young to US?
Carney: How much are we driving kids to Silicon/Seattle? How much are they sucking them in w/opportunities? 50% of Canadian grads every year goes to US. We need to retain more.
MORE
Q - Canada doesn't have the opportunities that Silicon Valley does? Why drive young to US?
Carney: How much are we driving kids to Silicon/Seattle? How much are they sucking them in w/opportunities? 50% of Canadian grads every year goes to US. We need to retain more.
MORE
Carney/20 LIVE CFR
AI, crypto, quantum will change things. We are going to drive a lot of that.
Q - Trump was just in UK, signed deals on AI. Could Canada sign similar deal w/US?
Carney: Sure. But could be w/others. AI needs power, chips, fiber optic cable - that infrastructure is underway in C. Payoff is in application, Canadian use.
MORE
AI, crypto, quantum will change things. We are going to drive a lot of that.
Q - Trump was just in UK, signed deals on AI. Could Canada sign similar deal w/US?
Carney: Sure. But could be w/others. AI needs power, chips, fiber optic cable - that infrastructure is underway in C. Payoff is in application, Canadian use.
MORE
Carney/21 LIVE CFR
Q - on approving new projects across Canada
Carney: C is a federation. Need province/fedl co-approval for big projects. Create partnerships between indigenous peoples, provinces, Ottawa -- greasing those wheels now. In energy, REEs, LNG.
MORE
Q - on approving new projects across Canada
Carney: C is a federation. Need province/fedl co-approval for big projects. Create partnerships between indigenous peoples, provinces, Ottawa -- greasing those wheels now. In energy, REEs, LNG.
MORE
Carney/22 Live CFR
Building zero-carbon LNG capacity. Shipping to Asia. You will see this escalate now. Also scaling up nuclear now. Largescale hydro -- 15K megawatt. AI instratruct. for energy innovation.
end
Building zero-carbon LNG capacity. Shipping to Asia. You will see this escalate now. Also scaling up nuclear now. Largescale hydro -- 15K megawatt. AI instratruct. for energy innovation.
end
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