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Carney Calls for Assertive Canadian Trade Policy

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  Published in Stocks and Investing on Sunday, February 22nd 2026 at 20:32 GMT by Global News
      Locales: CANADA, UNITED KINGDOM, UNITED STATES, JAPAN, SINGAPORE

Ottawa, February 23rd, 2026 - Former Bank of Canada Governor Mark Carney is spearheading a push for a dramatically more assertive Canadian trade policy, unveiling a detailed plan today that calls for a series of high-profile "trade trips" led by the Prime Minister. The proposal, outlined in a newly released report, aims to aggressively boost Canadian exports and fortify trade relationships in a rapidly changing global economic landscape.

Carney, currently co-chair of Brookfield Asset Management, argues that Canada has become complacent in its approach to international trade, falling behind other G7 nations in export growth. "Canada needs to get in the game," Carney stated in an interview with Global News. "The world isn't waiting for us. Countries are actively securing supply chains, incentivizing investment, and positioning themselves for future growth. We need to be an active participant, not a passive observer."

The core of Carney's strategy revolves around focused trade missions. These wouldn't be broad-based exploratory delegations, but rather highly targeted trips concentrating on sectors where Canada possesses a distinct competitive advantage. Specifically, the report emphasizes clean technology, critical minerals, and agriculture as key areas for export growth. The proposal envisions the Prime Minister leading these delegations, accompanied by relevant ministers and a curated group of business leaders representing Canadian innovation and expertise.

"These trips need to be about more than just handshakes and photo opportunities," Carney explained. "They'd be about directly engaging with heads of state, CEOs of major corporations, and key industry leaders to pinpoint concrete opportunities, dismantle trade barriers, and secure long-term partnerships." The intention is to move beyond simply hoping for trade, to actively creating it.

The report acknowledges a historical Canadian reluctance to aggressively pursue trade deals, often prioritizing domestic considerations. However, Carney contends that the current geopolitical climate - characterized by trade wars, fragmentation, and the urgent need to address climate change - necessitates a shift in mindset. He stresses that a proactive and strategic approach is now vital for Canada to maintain its economic competitiveness.

"The world has fundamentally changed," Carney asserted. "We're facing a period of unprecedented uncertainty. Canada needs to be proactive, strategic, and, yes, even aggressive in pursuing its trade objectives. We can't afford to be timid."

Beyond traditional trading partners, Carney's plan calls for a significant expansion of Canada's economic footprint in high-growth regions. The report specifically highlights the importance of strengthening relationships with countries in Southeast Asia and Africa, viewing them as critical emerging markets for Canadian goods and services. This expansion is not merely about finding new customers, but about diversifying trade relationships and reducing reliance on any single market.

The Canadian economic landscape supports Carney's assessment. Statistics Canada data confirms a lagging performance in merchandise exports compared to other G7 countries over the past two decades. Derek Burleton, senior vice president and chief economist at the Conference Board of Canada, agrees with the need for a more robust trade strategy. "We've been falling behind. Canada needs to do a better job of diversifying its trade relationships and proactively promoting its exports. We need to showcase what Canada offers to the world."

Industry groups have largely welcomed Carney's proposal. Perrin Beatty, president and CEO of the Canadian Chamber of Commerce, expressed strong support, stating, "We're supportive of any initiative that helps to boost Canadian exports. Trade is absolutely essential for Canada's economic prosperity and job creation." Other business leaders have echoed this sentiment, emphasizing the potential for increased investment and economic growth if the plan is implemented effectively.

The next steps will involve a thorough review of the report by the federal government and consultations with key stakeholders. The success of this initiative hinges on a strong commitment from the Prime Minister's office and a willingness to prioritize trade as a central pillar of Canada's economic strategy. While challenges undoubtedly lie ahead - including navigating complex international negotiations and addressing potential protectionist measures - Carney's proposal represents a bold attempt to revitalize Canadian exports and secure a prosperous future in an increasingly competitive world.