 "US-Canada break widens: Carney sets up new defence investment agency to rearm military")
Carney unveiled a new organisation as part of his effort to deliver on a campaign pledge to reform Canada’s military procurement system. Doug Guzman, a veteran executive from Royal Bank of Canada, has been appointed as its chief executive officer
Canadian Prime Minister Mark Carney has announced the creation of a new defence investment agency, which will build domestic manufacturing and rearm the country’s army in an effort to boost sectors such as steel that Trump tariffs have hit.
On Thursday, Carney unveiled a new organisation as part of his effort to deliver on a campaign pledge to reform Canada’s military procurement system. Doug Guzman, a veteran executive from Royal Bank of Canada, has been appointed as its chief executive officer.
“This is a tremendous opportunity for partnership between government and businesses. All at once, we can drive investment, strengthen our national security, and meet our international commitments. “We will bring speed and simplicity to the process of arming our military, while building Canada’s industrial capacity,” Guzman said.
What will be the purpose of the agency?
The newly made agency aims to accelerate defence acquisitions by conducting a review and approval process through a centralised system. Defence procurement will now be linked to domestic industrial benefits, boosting innovation in aerospace, shipbuilding and advanced manufacturing.
According to the prime minister’s office, the move will bring Canada more in line with allies such as the UK, Australia, and France, which already have dedicated procurement agencies. It also better positions Canada to take part in the European Union’s major rearmament initiative.
US-Canada ties
At the start of his presidency, Trump lashed out at his neighbours to both the north and south over illegal migration and drug trafficking into the United States, repeatedly threatening them with stiff tariffs.
He has so far mostly spared Mexico punishment but hit Canadian goods not compliant with the North American trade deal with blistering 35 per cent duties.
US tariffs are badly hurting Canada’s crucial auto, steel and aluminium sectors, leading to job losses.
Canada retaliated with tariffs on billions of dollars of US imports, but, in a gesture aimed at facilitating a deal, Carney has since exempted US goods that fall under USMCA.
With inputs from agencies
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