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Carney announced Wednesday that he has set an "ambitious" goal of doubling Canada's non-U.S. exports over the next decade to unlock some $300 billion in new trade. He didn't explain at the time how his government intends to make that happen.

When quizzed Thursday by reporters, Carney pointed to the federal government's support for port development, citing Grays Bay in Nunavut and the Port of Montreal's expansion project.

"You'll see more on that," he said. "Then, what are we exporting more of? It can be critical minerals from the Ring of Fire and building that up. We're working closely in terms of unlocking that enormous potential."

Carney made the comments standing next to Ontario Premier Doug Ford, who is pushing for speedy development of the Ring of Fire mining project in northern Ontario.

Conservative Leader Pierre Poilievre expressed skepticism of Carney's new target and said the prime minister should adopt more fossil fuel-friendly policies to maximize Canada's export potential.

"Our single biggest net export, by far, is oil and gas. And the only way you get oil and gas to non-U.S. markets is to get pipelines to tidewater," Poilievre told reporters on Parliament Hill. 

"We're now seven months into Mark Carney's term, and he still won't even tell us if he supports a pipeline to tidewater.

"I don't know, other than pixie dust, what he expects to export overseas if he's going to block the major infrastructure projects that are necessary to get our most valuable resources to the biggest and most lucrative non-American markets."

Poilievre also said the first batch of major projects the prime minister announced for fast-track approval did not need such help. He called on Carney to repeal a series of laws passed by the last Liberal government to boost high-value exports.

Carney expressed support for ramping up liquefied natural gas exports on Thursday and said his government is "just getting started" on getting major industrial projects built.

He said he will announce by Nov. 10 a list of new, large industrial projects Ottawa will fast-track through permitting approvals.

On Wednesday evening, Carney delivered a speech in Ottawa that framed his government's upcoming Nov. 4 budget as one that will spur "unprecedented" levels of private sector investment and unleash a building spree.

In the same speech, Carney also issued vague warnings about "sacrifices" and trade-offs.

Speaking with reporters Thursday, Carney started to explain what he meant when he said the government will have to "do less of some of the things we want to do, so we can do more of what we must do to build a bigger, better Canada."

But then he stopped himself.

"Why don't I not scoop the budget and we'll let it come out through the budget," he said.

Carney quickly added that he will maintain existing social supports for vulnerable populations, citing health transfers to provinces and child care support.

The Liberal party's House leader has fretted publicly about whether the opposition parties will allow the budget to pass through the House of Commons.

The Liberals are a few seats shy of a majority and will need some form of support from other parties to ensure the budget passes.

This report by ºÚÁϳԹÏÍø was first published Oct. 23, 2025.