Donald Trump spent the week deriding Canada and its leadership while threatening 50 percent tariffs from 19 August. Mark Carney answered with arithmetic instead of insults, saying the transformation of the Canadian economy was just beginning to show up in the numbers.
Canada is creating jobs at twice the rate of the United States, he said, and pulling in foreign direct investment at twice the rate of its nearest G7 competitor, which happens to be the United States. Growth is picking up this quarter, and business investment is finally moving too.
The markets have been saying something similar for a while. Toronto closed 2025 almost 29 percent higher, its best year since 2009, and is up 30 percent over the past twelve months against 20 percent for the S&P 500.
Stay connected, follow @Microinteracti1