Carney’s pitch at World Economic Forum could set stage for new global partnerships

Experts say Canada’s presence at the World Economic Forum takes on more importance this year with Prime Minister Mark Carney’s pitch to expand global trade relationships, especially as rhetoric from U.S. President Donald Trump threatens to “hijack” the annual meeting.

The conference in Davos, Switzerland, sees politicians and wealthy corporate leaders meet to discuss global affairs and economic development.

But Ivey Business School fellow Mahmood Nanji said the latest edition “takes on a different kind of meaning” than in past years amid global conflict and economic upheaval.

He said the forum provides an important opportunity for Carney to plant the seed that could lead to eventual new trade partnerships, at a time when uncertainty lingers over renegotiation of the Canada-United States-Mexico Agreement.

“Maybe before people said, ‘Oh, it’s just a bunch of elites who are going to show up at Davos, which is usually the case,'” Nanji said.

“For Canada in particular, Carney’s pitch at a forum like this is so important because I think he is really worried. Trying to have allies and partners with other parts of the world will be really important to offset any of the repercussions of Trump’s actions toward Canada out of the CUSMA negotiations.”

He cautioned it will take time for Canada to diversify its trade relationships, a process it has begun after signing recent deals with China and Qatar.

Carney spoke at the conference on Tuesday, saying middle powers like Canada must adapt to a new reality in which the world moves toward a system of economic coercion, with large powers pursuing their own interests above all else.

Trump has continued to talk about taking over Greenland as he prepares to speak at the forum on Wednesday, threatening tariffs on European countries opposed to the U.S. gaining control of the territory.

Nanji said that could distract from organizers’ theme, “a spirit of dialogue” at this year’s forum, but makes it all the more key for Canada to be engaged in conversations with its other allies right now.

For his part, Carney warned other world leaders against taking an approach of compliance in order to buy safety.

“Obviously in some ways, with what’s happened in the last little while, (Trump) has sort of hijacked the agenda at Davos. His mere presence at Davos was always going to be sort of a flashpoint,” said Nanji.

“Canada will also need to decide how it is going to response to this, so dialogue is going be even more important in the remaining days of the Davos summit.”

— With files from Kyle Duggan in Davos, Switzerland

This report by The Canadian Press was first published Jan. 20, 2026.