Canadian PM Carney hosts Philippine President Marcos as Canada pursues economic diversification away from US

Canadian Prime Minister Mark Carney hosted Philippine President Ferdinand Marcos Jr. on July 2, 2026, to strengthen trade and security ties as Canada seeks to diversify its economy away from the United States. Amid tariffs imposed by U.S. President Donald Trump, Carney also secured a deal with British Columbia for a new 1-million-barrel-per-day oil pipeline from Alberta to the Pacific coast to target Asian markets, while Alberta Premier Danielle Smith aims to double provincial oil production.

Trans Mountain pipeline expansion

• ▪Canadian Prime Minister Mark Carney secured an investment agreement with British Columbia to build a major oil pipeline carrying 1 million barrels per day.
• ▪The Alberta government is partnering with the federally owned Trans Mountain Corporation and Pembina Pipeline on the West Coast oil pipeline project.
• ▪The proposed West Coast oil pipeline will run from Bruderheim, Alberta, to the southern British Columbia coast along the Trans Mountain corridor.

Canadian trade diversification strategy

• ▪Canadian Prime Minister Mark Carney and Philippine President Ferdinand Marcos Jr. pledged on July 2, 2026, to pursue a Canada-Philippines free trade agreement.
• ▪Canada is negotiating trade deals with the Philippines and the Association of Southeast Asian Nations, aiming to conclude talks before November 2026.
• ▪Canadian Prime Minister Mark Carney set a goal for Canada to double its non-United States exports over the next decade.

Trump tariffs on Canada

• ▪United States President Donald Trump has imposed tariffs on Canadian energy products and goods via executive order during his second term.
• ▪Canadian Prime Minister Mark Carney stated that United States tariffs are causing a chill in investment in Canada.

Alberta oil production targets

• ▪Alberta Premier Danielle Smith aims to double the province's oil production to 8 million barrels per day over the next 10 to 15 years.
• ▪Alberta is planning a public vote in autumn 2026 on whether to hold a referendum on leaving Canada.

British Columbia tanker ban

• ▪British Columbia Premier David Eby secured a commitment from the federal government to keep the northern oil tanker ban in place.
• ▪Canadian Prime Minister Mark Carney committed to compensating British Columbia for environmental risks if a pipeline is built in the southern part of the province.

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