Carney Promotes Canada’s Trade Stability at ASEAN Summit

KUALA LUMPUR – Prime Minister Mark Carney emphasized Canada’s commitment to trade stability at the ASEAN summit on October 26, 2025. His remarks came against a backdrop of escalating tensions with the United States, where President Donald Trump recently threatened new tariffs on Canada. Carney’s comments reinforced Canada’s role as a reliable trade partner without directly naming the U.S. or Trump.

During his speech, Carney stated, “We value a rules-based system. We respect trade agreements and the rule of law. We value the free exchange of goods, capital and ideas.” These statements appeared to contrast sharply with Trump’s recent threats linked to a controversial advertisement run by the Ontario government, which Trump described as fraudulent and inappropriate during a significant sports event.

The $75 million advertisement features historical clips of former U.S. President Ronald Reagan discussing tariffs and has drawn considerable ire from Trump, who cut off trade talks with Canada shortly after its release. As the summit unfolded, it remained uncertain whether Carney and Trump would meet later in the week during the Asia Pacific Economic Cooperation forum in South Korea.

Carney addressed ASEAN leaders about the challenges posed by “transactional bilateral trade” and the increasing rivalry among major powers, which threaten global institutions relied upon by countries like Canada and those in Southeast Asia. He underscored the importance of dependable partnerships, asserting that Canada stands as one such ally.

In a bid to strengthen trade ties, Carney announced plans to double non-U.S. exports over the next decade and to quadruple defense spending within four years, focusing significantly on cybersecurity and artificial intelligence. Additionally, he highlighted Canada’s recent trade agreement with Indonesia, marking the first such deal with an ASEAN member.

Carney committed to advancing bilateral agreements with other interested nations and expressed determination to finalize a comprehensive trade deal with ASEAN by next year. The summit also welcomed Timor-Leste as its 11th member, reflecting the bloc’s ongoing expansion.

On the sidelines of the summit, Carney engaged with the leaders of Laos and Vietnam, as well as the president of the Philippines. His interactions included a fireside chat at the ASEAN business and investment summit, further highlighting Canada’s proactive approach in fostering international trade relations.

Canadian officials noted that Carney and Trump had not communicated since the previous Thursday, leaving the future of their discussions uncertain. As both leaders continue their respective engagements in Kuala Lumpur, the implications of their trade policies remain a significant focus for stakeholders on both sides of the border.