By Paul Vieira
OTTAWA--Canada intends to launch its first sovereign-wealth fund, Prime Minister Mark Carney says.
In a message posted on YouTube, Carney said the sovereign-wealth fund--to be called the Canada Strong Fund--would invest alongside private-sector proponents in projects deemed to be of the national interest. He added individual Canadians could also participate, should they choose to deploy their savings in the new fund.
He said the fund would help fortify resilience in the Canadian economy. Carney is expected to share more details at a press conference this morning in the nation's capital.
Carney recently secured a majority of the seats in the federal legislature, giving him a freer hand at pursuing his agenda. He has made the construction of new trade corridors and resource development key policy priorities as he seeks to rewire an economy that had become too reliant on trade with the U.S. to drive growth.
President Trump's tariff policies include hefty levies on key Canadian industrial sectors. Canada is the lone Group of Seven economy that has yet to reach a deal with the White House on tariff relief.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
04-27-26 0827ET
