Sub Markets

Property Sectors

Topics

Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Canada  + Cross Border News  + Finance  | 
Photo of Prime Minister Mark Carney.

Carney’s Washington Visit Not Expected to Generate Benefits

Prime Minister Mark Carney met with U.S. President Donald Trump in Washington on Tuesday, but observers doubted that the visit would generate benefits for Canada.

Carney did not speak to reporters after what was described as a working lunch involving the two leaders. Canadian commercial real estate industry leaders and those from other sectors are still highly concerned about the effects of U.S. tariff hikes and ongoing trade tensions between the two countries.

The Aluminum Association of Canada did not expect a breakthrough, The Globe and Mail reported.

“We don’t expect anything to come out on aluminum,” Jean Simard, the group’s CEO, told the Globe.

Canada’s steel and aluminum sectors have been among the sectors hardest hit by tariffs. Simard told the Globe that the meeting was more about “nurturing the relationship.”

Kelly Craft, Canada’s former ambassador to the U.S., said in an interview with the Globe that the burden was on Carney to strike a trade and security deal with Trump during the meeting.

Trump maintained a hard-line stance against trade concessions for Canada.

“We have a natural conflict,” Trump told reporters at the outset of the meeting. “We also have mutual love, we have great love for each other, I love Canada.

“The problem we have is that they want a car company and I want a car company. They want steel and we want steel.”

Trump also reiterated his suggestion that the U.S. could annex Canada, touting a potential “merger” of the countries.

Leading up to the meeting Ontario Premier Doug Ford and Pennsylvania Governor Josh Shapiro called for Trump to stop bullying Canada and strike a trade deal with its northern neighbour during a news conference in Quebec City.

“I hope the President of the United States has re-evaluated his tough guy approach to Canada,” Shapiro told reporters.

“Instead of coming in and trying to bully the prime minister, actually sit down and work to hammer out a deal that lifts everyone up. This is not a zero-sum game. I don’t believe that if a Canadian does well, a Pennsylvanian has to be worse off.”

Connect

Inside The Story

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Financing
  • ◦Economy
New call-to-action