Prime Minister Mark Carney will travel to New York on Wednesday for a two-day push to position Canada as a destination for capital investment, the Prime Minister’s Office said in a statement on Sunday. The visit, his first to the US financial capital since taking office, includes a keynote at the Economic Club of New York and private meetings with the chief executives of several large asset managers and infrastructure funds.
Carney started the week in Vancouver, where he toured a modular-housing construction site in Burnaby with Mayor Ken Sim on Monday morning. The two discussed federal support for Vancouver’s pre-permitted housing pipeline and a possible adjustment to the harmonised sales tax treatment of new builds in British Columbia, which Carney described as "in early stages of discussion."
The New York agenda is built around the Canada Strong Fund, the country’s first sovereign wealth vehicle, which Carney announced in late April and which is now in its initial deployment phase. Federal officials have spent recent weeks meeting US and European pension funds about co-investment in critical-minerals projects in Quebec and northern British Columbia, and Carney is expected to use his Economic Club address to formally invite international capital into those structures.
Foreign direct investment into Canada hit its highest level in two decades in the first quarter of 2026, according to Statistics Canada, helped by Carney’s decision to repeal portions of the previous government’s digital-services tax and his renegotiation of the cross-border tariff arrangements with the Trump administration. The Global Infrastructure Investor Association ranked Canada as the world’s most attractive infrastructure market in its May survey.
Domestic politics around the trip will focus on housing. The federal Conservative opposition has accused the Liberal government of leaning too heavily on foreign capital at the expense of domestic builders; Carney’s tour with Sim is intended as a counterweight, emphasising that federal incentives are conditional on construction taking place in Canada. The prime minister will return to Ottawa on Friday in time for a Commons sitting next week.
In a parallel announcement on Sunday, the Department of Finance said the next instalment of the Canada Growth Fund’s call for green-hydrogen proposals would open in mid-June. The fund expects to make initial commitments before the end of the year, with at least two projects in Alberta and Newfoundland on the shortlist.