Canada will establish its first sovereign wealth fund, the Canada Strong Fund, with an initial federal endowment of C$25 billion, as Prime Minister Mark Carney seeks to drive long-term growth and reduce dependence on the United States. Carney said the fund will support nation-building projects in energy, trade, critical minerals, transport and data, while allowing Canadians to share directly in the gains.
The move marks a major shift in federal economic policy and reflects Carney’s view that Canada’s close ties with the U.S. have become a vulnerability amid tariffs and trade uncertainty.
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