On the final day of the Investment Summit in Toronto, former prime minister Stephen Harper delivered the closing remarks, addressing the ongoing trade war with the United States and calling for the federal government to diminish its reliance on the U.S. and assert Canada as a global energy superpower.
As for Prime Minister Mark Carney, he’s headed for a whirlwind trip across the Atlantic Ocean. The prime minister will address the European Parliament in France while he aims to negotiate a “unique” partnership between Canada and the European Union.
Carney is also expected to meet with U.K. Prime Minister Andy Burham in England.
Earlier in the day, Carney said he wants to see private investors operate Canada’s four largest airports. However, labour groups have pushed back against any sale.
Key points:
- Former PM Harper addresses trade war
- Carney looking to attract $1T in new investment
- Sources say Ottawa looking at new legislation for airports
- U.S. President Donald Trump’s newest tariffs take effect
Follow for live updates:
Canada had ‘no choice’ but to walk away from trade talks: Harper
In his address, Harper said he believes the federal government had “no choice” but to walk away from the fraught negotiations with the U.S., adding that to maintain its sovereignty, Canada “must pursue diminished reliance upon the United States.”
Harper said he finds the necessity of that shift both “sad” and “necessary,” and echoing comments made by Carney earlier this month, said there will “significant cost.”
“Leadership is defined by taking accountability for what you can control,” Harper said. “And today, more than ever, Canada must become more internally competitive, more externally connected, and more truly sovereign than it has been.”
Spencer Van Dyk, CTV News writer & producer
Canada can become global energy superpower: Harper
Harper mentioned Canada’s potential as an energy superpower, something Carney has pledged to accomplish in his time as prime minister.
“In 2015, Canada was poised to become that energy superpower. Today, we are not. Why? Because of deliberate policy choices that followed over the next decade,” Harper said, seemingly making a jab at former prime minister Justin Trudeau.
“But there is no point bemoaning what is past, especially because the opportunity of becoming that global energy superpower is fortuitously offering itself to us once again,” Harper continued. “I do congratulate our current federal government on the measures it has taken to fast-track major project approvals, especially for projects in the oil sands.”
Spencer Van Dyk, CTV News writer & producer
Former PM Harper encouraged by Carney government
In a unifying, cross-partisan speech, Harper said he’s encouraged by Carney’s government and its commitment to certain reforms, finishing the speech by saying Canada offers not just its resources and opportunities, but its trusted partnerships.
Harper also congratulated Carney’s government for the investment summit.
“It is such a great innovation that I wish I had thought of it.”
Spencer Van Dyk, CTV News writer & producer
Changes to EU visa rules ‘a possibility’
Asked whether talks with the EU could include changes to visa requirements for Canadians in Europe, Carney said in French “it’s a possibility.”
“It will be an aspect within discussions,” he added, also in French.
Speaking more broadly about Canada’s deepening ties with the bloc, Carney mentioned collaboration in energy and critical mineral sectors. He also said opportunities exist to expand research opportunities, cultural exchange, and “people-to-people” exchange.
While Carney is expected to travel to Europe later today, he said the bulk of discussions will take place during the Canada-EU summit in Montreal later this year.
Under current rules, Canadians can visit the EU’s Schengen area visa-free for up to 90 days in any 180-day period. Working visa requirements vary by country and applicant.
Luca Caruso-Moro, CTVNews.ca journalist
‘Let’s get down to business’: Premier Kinew
Manitoba Premier Wab Kinew told reporters at the Investment Summit on Tuesday that the overarching attitude he’s seen from his fellow premiers is a Team Canada approach.
“I think that the attitude right now is as much as Canadians have been stressed by Donald Trump’s tariff threats, there’s even more of a willingness to just kind of dust off our hands and say, ‘All right, let’s get down to business and let’s get things done for Canada.’”
Kinew said his hope for the summit is to show that Canadians can do “great deals with folks from around the world.”
“I hope that the American business folks who are here just take the time to say, ‘Oh yeah, the rest of the world is still doing business, and maybe we shouldn’t miss out on this.’”
Kayla Thompson, CTVNews.ca, journalist
Canada’s new ‘Mega Deduction’ tax incentive
Carney’s administration is rolling out what it calls a “Productivity Mega Deduction,” a tax incentive allowing businesses to deduct 100 per cent of the cost of eligible new investments.
Those eligible assets include fibre-optic cable, mining property, oil and gas pipelines, software, research and development, computer equipment, aircraft and vehicles, patents, rail track, bridges, and roads.
Luca Caruso-Moro, CTVNews.ca journalist
Calgary, Vancouver airports ‘not for sale’: union
In a statement shared Tuesday, the Union of Canadian Transportation Employees said it was “shocked and disappointed” with the federal government announcing they will seek private investors for Canada’s major airports, including those in both Calgary and Vancouver.
“We are especially disappointed to hear this information through the media,” Barry Tchir, Union of Canadian Transportation Employees (UCTE) national president, said in a statement. “We have been trying to get a meeting with the Minister for months and are shocked to hear about this proposed sale of these airports in this manner.”
The union said Calgary and Vancouver’s airports are “not for sale” and that the existing airport model “works for Canadians,” adding that private investors would focus on making a profit.
“Someone always pays for it,” Tchir said.
Hunter Crowther, CTVNews.ca producer
What Toronto Pearson has to say about Carney’s plan
Toronto Pearson Airport has released a statement following the federal government’s announcement that it would open Canada’s four international travel hubs to private investment.
“Toronto Pearson recognizes the federal government’s plan for future investment in airports. We look forward to working with the government on next steps that ensure stewardship of Pearson, one of North America’s busiest and high performing airport hubs, while achieving the government’s national investment strategy,” the Greater Toronto Airports Authority, which operates the facility, said in a statement.
“Toronto Pearson will continue to collaborate with the federal government to ensure the airport maintains delivery of long-term economic value, meets the needs of our passengers and preserves the critical role our sector plays in Canada’s sovereignty and prosperity.”
Bryann Aguilar, CP24.com journalist
Canada would maintain majority stake in airport
Carney says his team is entering the consultation phase regarding his plan to bring private investors into Canada’s largest airports.
Taking questions in Toronto Tuesday, he said the federal government would maintain majority ownership over the airports through the Canada Strong Fund. Revenues gained through third-party investment would be reinvested in regional airports, other forms of transportation, and broadband infrastructure.
Luca Caruso-Moro, CTVNews.ca journalist
Labour groups oppose airport privatization
Prior to the summit, the Canadian Labour Congress (CLC) released a report saying privatizing Canadian airports could lead to higher costs for travellers, increased pressure on airport workers and the loss of long-term public value.
In a new statement Tuesday, CLC secretary-treasurer Lily Chang warned private investment “will cost Canadians.”
“In the middle of a trade war, handing profitable public infrastructure over to private investors is exactly the wrong move,” the statement reads in part. “If the goal is to make Canada stronger and more secure, we should be investing in the assets we depend on, keeping their value here at home.”
Stephanie Ha, Ottawa News Bureau manager. Read the full story here.
Canada is ‘incredibly attractive’ to investors: Former U.S. ambassador
Global investors are showing new interest in Canada, according to a former U.S. ambassador to Ottawa.
Bruce Heyman told CTV News Channel on Tuesday that when he travels anywhere from Abu Dhabi or Beijing to Europe, investors ask him, “‘How do I get just Canada?’”
“(Investors) used to invest in North America overall, and they used to include Canada and all that, but now it’s clearly a defining moment, and I think the prime minister (Carney) has laid this out well,” he said.
Canada’s natural resources, including hydro, wind, solar, nuclear energy, water, as well as a highly educated workforce, make it an attractive place to invest in, according to Heyman.
“You also have rule of law. Government is functioning. It’s a democracy, and the prime minister is very clear. It’s about trust. So, when you do an agreement and you have an agreement with Canada, you know it’s a real agreement and it’s upheld.”
Kayla Thompson, CTVNews.ca, journalist
Trump gave Carney a golden key
Carney says Trump gave him a golden key to the White House following a meeting there last year.
“I want to give you, Mark, I want to give you something really special,” Carney said during a fireside chat following his speech, recounting Trump’s remarks. “So special, Mark, so special.”
“I open this box, and it’s this big gold key. I said, ‘Wow, Mr. President, it’s fantastic.’
“And he’s like, ‘Yeah. It’s the key to the White House. You just bring it, they’ll let you in.’ And then he says, ‘Maybe they’ll shoot you.’”
Laughter followed in the room.
“And that sort of sums up the relationship that we have … and that’s sort of Canada and the U.S.,” he continued.
“In Canada, you get the key, you’re in. In the U.S., they might shoot you.”
Luca Caruso-Moro, CTVNews.ca journalist
Nanos data on ‘the American shadow’
Canada-U.S. relations has returned to the top spot as issue of concern for Canadians, according to new data by Nanos Research.
The polling firm collects regular data on the top issue of concern, and Canada-U.S. relations, at 27.5 per cent, has now surpassed jobs and the economy (21.1 per cent) for the first time in months.
The last time U.S. President Donald Trump was the top-of-mind concern for Canadians, according to Nanos Research, was last February. And, the biggest spike — when more than 40 per cent of Canadians reported it as their top issue of concern — was in February 2025, shortly after Trump moved back into the White House for his second term.
Nanos Research is also reporting the Liberals continue to lead in popularity, at 48.3 per cent, compared to the Conservatives, at 30.9 per cent, and the NDP at 10.9 per cent.
Mark Carney’s personal popularity on the question of preferred prime minister is also well ahead, with 56.1 per cent, compared to Conservative Leader Pierre Poilievre with 21.1 per cent.
Methodology: 1,014 random interviews recruited from an RDD land- and cell-line sample of Canadians aged 18 years and over, ending September 11. The data is based on a four-week rolling average where each week the oldest group of 250 interviews is dropped and a new group of 250 is added. A random survey of 1,014 Canadians is accurate 3.1 percentage points, plus or minus, 19 times out of 20
Spencer Van Dyk, Ottawa News Bureau producer
Carney wants private investors to run four largest airports
Prime Minister Mark Carney says he wants to see private investors operate Canada’s four largest airports -- Toronto Pearson, Montreal, Calgary and Vancouver.
In a keynote address at the investment summit in Toronto today, the prime minister says the federal government would retain ownership of the land and assets.
He says the goal is to shift federal spending on major airports’ operating costs toward smaller regional airports and other local infrastructure projects.
The prime minister says that putting more money into smaller airports should lead to more affordable regional and remote air travel.
The Canadian Press
Canada to balance operating budget next year
Carney says his government is on track to balance Canada’s operating budget next year while “maintaining the lowest overall deficit in the G7.”
His comments were met with applause.
Luca Caruso-Moro, CTVNews.ca journalist
Carney to U.S.: ‘We have always maintained deep ties’
Carney offered a word to “our American friends” during his address, saying Canada will always be an “important” partner to the U.S.
Even during times of adversity, he said, “we have always maintained deep ties.”
“These arrangements work best when we engage as true partners … When those opportunities return, Canada will be an even better partner.”
Luca Caruso-Moro, CTVNews.ca journalist
‘We can be masters in our own home’: Carney
Carney has taken the stage to address an audience of investors in Toronto. He’s pitching Canada as a “safe harbour” in a world where “economic integration has been weaponized.”
“We can be masters in our own home.”
Luca Caruso-Moro, CTVNews.ca journalist
Carney to speak at investment summit
Carney is set to deliver remarks and hold a press conference at his government’s investment summit in Toronto today.
The prime minister is also scheduled to participate in a discussion with Deborah Orida, the CEO of PSP Investments which is one of Canada’s largest pension investors.
Hundreds of executives and global asset managers are in Toronto this week for Canada’s first-ever national investment summit and Carney has set an ambitious goal of attracting $1 trillion in new investment over the next five years.
Day one of the investment summit saw billion-dollar announcements and changes to Canada’s tax policy.
The federal government said investors putting $1 billion or more into Canada’s economy will get priority access to a program that offers binding decisions from the Canada Revenue Agency, while Saskatchewan Premier Scott Moe announced an expansion of Bell’s AI data centre project in Saskatchewan.
The event has been criticized by some Indigenous leaders, environmental groups and union leaders who say they worry about the future of public services, pipelines and arms manufacturing.
CTV News, CP24 and BNN Bloomberg are divisions of Bell Media, which is a wholly owned subsidiary of BCE Inc.
The Canadian Press. Read the full story here.
Facetime with EU leaders
Carney has plans to meet with Burnham in Liverpool on Wednesday night, where the men could take in some Carabao Cup action while discussing priorities for their relationship.
Known for working the phones with his European contacts – thanks to his tenure as governor of the Bank of England – Carney’s office has indicated the prime minister will also try to meet with additional European leaders as opportunities arise during the two days overseas.
One area where additional facetime could come in handy would be seeing if any progress can be made on pushing the final 10 European countries holding out to finally ratify the decade-old Canada-EU Comprehensive Economic and Trade Agreement, known as CETA.
This example has recently been pointed to by those who caution Carney moving too many of Canada’s economic eggs into the European basket, given the glacial pace over movement and often disparate views of some EU member states.
Rachel Aiello, CTV News national correspondent. Read the full story here.
New U.S. tariffs arrive
The latest U.S. tariffs on a small number of Canadian goods went into effect Tuesday as Washington presses on in its trade war with Canada.
The White House said last week it would impose 50 per cent tariffs on goods representing about 0.6 per cent of U.S. imports from Canada, such as outboard motorboats and metal and paper products.
American officials also said 50 per cent tariffs on goods representing about 0.5 per cent of U.S. imports from Canada, such as cement, sugar, toilet paper and fishing rods, would be removed.
The latest tariffs come amid an ever-evolving trade war between the two countries after Canada walked away from formal negotiations last month. Carney said the Americans made last-minute demands that would undermine Canada’s sovereignty.
U.S. President Donald Trump imposed tariffs on nearly $28 billion in Canadian goods in August, while Ottawa followed suit with retaliatory tariffs on American products.
Trump has also ordered bans of imports of Canadian-made liquor and a handful of dairy products that will go into place Sept. 29.
The Canadian Press. Read the full story here.
‘I welcome the president’s comments’: Carney
Amid comments from Trump over the weekend that his administration could reach a trade deal with Canada “fairly soon,” Carney says he still has hope.
In an interview with Bloomberg on Monday, when asked for an update on negotiations with the U.S., Carney reiterated what he has said several times in recent weeks: that he believes a “mutually advantageous” deal is still possible.
“One that respects our sovereignty, respects obviously the U.S. sovereignty, respects our cultural institutions, and that is a possibility,” Carney said. “We’re ready to sit down and negotiate that and move it forward.”
“So, I welcome the president’s comments,” he added.
Spencer Van Dyk, Ottawa News Bureau producer
New airport legislation expected: sources
The federal Liberal caucus hastily called a meeting with its MPs on Monday to discuss the future of Canadian airports, according to multiple sources.
Those sources tell CTV News that only MPs and none of their staff were allowed on the call.
The federal government has been actively exploring the privatization and alternative ownership models of its major airports, which currently run under a not-for-profit model where local airport authorities manage federally owned land via long-term leases.
In both the 2025 federal budget and this spring’s economic statement, the federal government signalled its intent to pursue alternative ownership models.
One MP, who was on the call, tells CTV News the call focused on the selling of Canada’s four big airports – Toronto-Pearson, Montreal-Trudeau, Calgary and Vancouver – and opening them to foreign investment.
Ottawa News Bureau staff. Read the full story here.
Sally Field shouts out Canada at Emmys
Canada’s rocky relationship with the United States made its way to Hollywood on Monday night as Sally Field accepted a top prize at the Emmy Awards, while actors also paid tribute to the late Catherine O’Hara.
Field took home the trophy for best actress in a limited or anthology series or TV movie for her role in the Netflix drama “Remarkably Bright Creatures.”
The movie was filmed in Deep Cove, B.C., including some scenes at the Vancouver Aquarium. Field name-dropped Canada during her acceptance speech.
“Blessed Canada, our neighbours, our friends,” she said, drawing applause and cheers from the audience at the Peacock Theater in Los Angeles.
The Canadian Press. Read the full story here.
