Prime Minister Mark Carney is presenting Canada as a safe harbour for global capital and a base for the new global economic order as Ottawa seeks to reduce its reliance on the United States. At the Canada Investment Summit in Toronto, more than 100 investors and sovereign wealth fund representatives overseeing more than C$120tn ($86tn; £64tn) examined opportunities across defence, energy, mining, artificial intelligence and infrastructure. Foreign Affairs Minister Anita Anand said participants, including investors allied with President Donald Trump, viewed trade tensions with the United States as an economic driver that could make Canada more attractive by intensifying competition. Carney promoted more than 160 projects, announced a corporate tax mega-deduction allowing companies to immediately deduct 100% of new investment costs across more assets, and said four major airports would be opened to foreign investment. He also proposed a unique security and economic alliance with Europe as Canada diversifies its partnerships, while acknowledging that the United States would remain its largest trading partner. Canada and the EU are exploring closer cooperation in defence, raw materials, energy, professional mobility and artificial intelligence, although the bloc is not considering associate membership and 10 EU states have yet to ratify the Comprehensive Economic and Trade Agreement. The summit also drew protests from groups concerned about public resources, private investment risks and social and environmental costs.