Prime Minister Mark Carney announced the creation of a government-owned investment fund in Canada, starting at C$25 billion (around $18 billion USD). This fund will focus on major industrial projects in sectors such as energy, infrastructure, mining, agriculture, and technology. Carney stated that the federal government will collaborate with private investors to finance these initiatives, aiming to diversify Canada's economy away from its heavy reliance on the United States. The move comes amid ongoing trade tensions, with U.S. President Donald Trump imposing tariffs that threaten Canada's economic sovereignty. Carney noted that Canada needs to adapt to the changing dynamics of U.S.-Canada relations, which have shifted from being a strength to a potential weakness. The announcement precedes a spring economic update from Carney's government, reflecting a broader strategy to establish a sovereign wealth fund, similar to those in other countries, even though Canada currently lacks a budgetary surplus to fully fund it.