Canadian Prime Minister Mark Carney has recalled a light-hearted but striking exchange with US President Donald Trump, saying Trump joked that US security officials might “shoot” him after presenting him with a ceremonial gold key to the White House.
Carney shared the anecdote during a fireside chat at the Canada Investment Summit in Toronto on Tuesday, where he was promoting Canada as a destination for global investment amid continuing trade tensions with the United States.
Carney said the incident occurred during a visit to the White House in May 2025, when Trump told him he had something “really special” for him. Trump then presented Carney with a large gold key and told him it would allow him to enter the White House.
According to Carney, Trump followed the gesture with the remark: “Maybe they’ll shoot you.”
Carney said the exchange “sort of sums up the relationship” between the two neighbouring countries, drawing laughter from the audience. He also thanked Trump for the gesture and described him as “a very good host.”
Carney added that if Canada were to give someone a key to the country, the response would be different.
“If we give you a key to Canada, we’re not gonna shoot you here. We’re gonna welcome you,” he said.
Carney Pitches Canada to Global Investors
The anecdote came as Carney used the investment summit to promote his government’s ambitious plan to attract C$1 trillion in investment over the next five years.
The summit brought together investors from nearly 30 countries whose organisations manage more than C$100 trillion in assets. The Canadian government said the event resulted in nearly C$500 billion in new investment commitments.
Carney said the investment drive would focus on sectors including energy, transportation, data, defence and critical minerals. He has also announced measures designed to make Canada more attractive to investors, including a new Productivity Mega Deduction that allows businesses to immediately deduct the cost of a broader range of investments.
The government says the measure will reduce Canada’s marginal effective tax rate on new business investment from about 13% to 6.4%.
Canada-US Relations Remain Strained
Despite the ongoing tensions with Washington, Carney stressed that the United States would remain an important partner for Canada.
He said the two countries would “always be neighbours” and that Canada would continue to be an important US partner in several key areas. At the same time, he said Ottawa wanted its relationship with Washington to be based on mutual respect for sovereignty and partnership.
The comments come amid an escalating trade dispute between the two countries. Carney has also been seeking to diversify Canada’s economic relationships and strengthen ties with other international partners.
Canada is looking to attract investment into areas including energy, mining, technology, infrastructure and defence as it seeks to strengthen its economy and reduce its dependence on the US market.
The government has also announced plans to pursue closer economic and security cooperation with the European Union as part of its broader effort to diversify international partnerships.
Defence Spending Also Set to Rise
Carney has linked the investment drive to a major expansion of Canada’s defence capabilities.
His government has described the increase as the country’s largest expansion in defence spending since the Second World War, with Canada planning a path toward defence spending equivalent to 4% of GDP by 2030.
The government’s broader investment strategy includes opportunities in aerospace, shipbuilding, artificial intelligence, cybersecurity, quantum technologies, robotics and autonomous systems.
As Canada seeks to attract capital from around the world, Carney’s White House key anecdote offered a humorous glimpse into the complicated relationship between Ottawa and Washington, even as the two countries remain closely linked economically and strategically.
