Prime Minister Mark Carney is pursuing closer economic and strategic ties between Canada and the European Union, including a possible associate-membership arrangement, while using a two-day Toronto summit to attract more than 100 global investors overseeing over C$100 trillion in assets. Ottawa and Brussels are examining freer movement for goods, services and workers in strategic supply chains including energy, artificial intelligence, defense and critical minerals, alongside possible undersea cables, data centers, satellite networks, energy infrastructure and Arctic shipping routes. The broader diversification effort follows the collapse of trade talks with Washington, retaliatory U.S. restrictions and President Donald Trump’s comments about making Canada the 51st state. The United States bought roughly 72% of Canadian exports last year, and bilateral trade equals about 20% of Canada’s GDP, making a stable future trading relationship central to attracting long-term investment. Carney is promoting Canadian opportunities in energy, resources, artificial intelligence, defense, transportation and infrastructure, although investors remain cautious about lengthy approvals, provincial and Indigenous opposition to major projects, and the limited scale and depth of investible opportunities.