Canadian Funds Bet on ‘Nation-Building’ Amid US Tariffs, Taunts

Fund managers in Canada are pushing their chips into sectors expected to benefit from Prime Minister Mark Carney’s plan to fast-track major infrastructure projects and become less reliant on trade with the US.

The country is already feeling the pain from US tariffs on its steel and auto sectors, while Canadians are incensed by Donald Trump’s repeated threats on their sovereignty. But on Bay Street — Canada’s main financial corridor — investors are buying into one of Carney’s own slogans: “We can give ourselves far more than the Americans can ever take away.”

The “nation-building” effort isn’t just ...