Peter MacKay: Mark Carney must ignore Trump’s baiting and get back to the table

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The euphoria has subsided and the Canada Investment Summit promotional materials packed away, but there has been scarce little time yet to total up the actual investments it produced. The book of potential projects and the number of potential investors was impressive. Former prime minister Stephen Harper remarked that he wished he had come up with the idea. His presence reminds us what a balanced budget, Canadian energy superpower ambition and affordability and serious statesmanlike leadership can accomplish. He also drew attention to the size of the challenges that still exist. How we live up to the promise to cut through the infamous sea of red tape, anti development legislation and Gordian knots tied by bureaucrats was missing from the rhetoric and receptions in Toronto last week. Also absent was the truth about the lost decade and the narrative reversal on pipeline and critical mineral projects, which had no business case just a short time ago.

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Curiously no copies of the prime ministers own book Virtues were in any of the swag bags handed out at the over 80 receptions. Perhaps some made their way to the Toronto International Film Festival that was happening simultaneously. With no ink dry on any new or substantive investment contracts the prime minister quickly jetted off to Strasbourg to address the EU parliament to bask in his Europeaness and explore ways Canada can join the club. Yet questions remain. What is the cost of associate membership and our closely guarded sovereignty, resources and culture, allegedly under threat from Washington, which appears to be on the table, if not the menu in Brussels? What are Canadians to make of it all ? It seems in Canadas case talk is not cheap. Because for all the talk, the price of everything is going up, yet words flow freely.

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While surely not really at warin the 1812 sense of the word, we are in a pickle when it comes to tariffs and the economic fallout from the continuous haranguing of U.S. President Donald Trump. The escalating scale of the dispute doesnt seem to have quite peaked just yet. Beyond name calling, memes and renaming lakes, further fall out may ensue based on the enthusiasm of Prime Minister Carney for becoming best friends with benefits of the European Union. This further has upped the ire, following the announcement of a strategic partnership, and import of EVs from our previously labeled biggest security threat, China.

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Putting aside those contradictions and irreconcilable comments, the white hot enthusiasm for defense investment seems stalled.

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The focus on build, buy partner to refurbish the Canadian Armed Forces while significantly kickstarting the defence industrial ecosystem in Canada is brilliant and promising, yet many are beginning to express concern that the grand promises and raised expectations may fall short. Any improvements to the current challenges facing the Canadian Armed Forces would be welcome and frankly overdue. The obvious boost in salaries and infrastructure is tremendously well received by those in uniform and their families.

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A Memorandum of Understanding on German/Norwegian made submarines which appeared rushed to announcement at the last NATO summit was applauded heartily in the EU, yet Canadian shipyards are unsure what opportunities it really means here at home. We seem to still be stalled on a CF-18 replacement fighter contract for the RCAF, which is bracing for the impact of potentially flying, maintaining and training on two fleets, one Canadian and one American.