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The United States and Canada have long enjoyed an unusually close economic relationship, with integrated supply chains, regulated industries and decades of largely friction-free trade. But according to Canadian Prime Minister Mark Carney, that era is coming to an end.
“This decades-long process of closer economic ties between the economies of Canada and the United States has now come to an end,” Carney said in late 2025.
Speaking at the World Economic Forum in Davos in January 2026, Carney doubled down on his message in a now famous speech shared around the world (2).
“Let me be direct. We are in a crisis, not a transition,” he said.
Carney called the debacle “the end of a sweet myth and the beginning of a harsh reality,” calling on other countries to end American hegemony.
Here’s a look at why Canada’s prime minister is saying these things — and how you can survive the economic impact on your wallet.
If you’ve been following him for a while, Carney’s words probably aren’t new to you. In fact, he sounds the alarm when President Donald Trump starts talking about the “51 states” and tariff volatility.
In March 2025, he warned that “the old relationship we had with the United States, based on deep economic integration and tight security and military cooperation, is over,” and that Canada must “fundamentally rethink” its economy in a “very different world” (3).
Carney also warned that many of Canada’s former strengths — built on its strained relationship with the United States — are now vulnerable. In particular, Trump’s tariff policy threatens Canadian jobs that depend on exports to the United States.
“Jobs for workers in our industries most affected by U.S. tariffs — autos, steel, lumber — are under threat,” Carney said in October (1).
Simply put, the good old days are gone – and they’re not coming back.
“Our relationship with the United States will never be the same, even though, in the new conservative world, we have the best trade agreement of any country,” he explained.
And Canada is not alone in absorbing the shock. The United States is the world’s largest consumer market for goods and services, and many countries rely heavily on American demand. Broader tariffs could therefore have severe economic consequences beyond North America.
In fact, Carney has previously warned that Trump’s sweeping tariffs would “cruise the global economy (4).”
However, this is not the first time the world has seen a geopolitical shock. The global economy has already suffered from recessions, trade wars and financial crises.
And while no one can predict the exact landscape, investors can still chart a course — especially by focusing on assets that can withstand the highest levels of uncertainty.
Read more: I’m almost 50 and have no retirement savings. Is it too late to catch up?
Read more: Non-millionaires can now invest in this $1B private real estate fund starting at just $10
Ray DeLeo, founder of the world’s largest hedge fund, Bridgewater Associates, has repeatedly emphasized the importance of holding one particular safe-haven asset: gold.
“People generally don’t have enough gold in their portfolios,” Dalio told CNBC in early February 2025 (5). “When times are bad, gold is a very effective diversifier.”
In June 2025, he reiterated this point, noting that “in times of great stress, you will find that gold will do well (when other) assets (6) will not.”
Seen as the ultimate safe haven for the long term, gold is not tied to any one country, currency or economy. It cannot be printed out of thin air like fiat money, and in times of economic turmoil or geopolitical uncertainty, investors appreciate its value.
Considering that gold prices reached new highs in January 2026 (7), it appears that the precious metal is living up to expectations.
If you’re looking for a way to get in on the gold rush, one way to invest in gold that also provides significant tax benefits is to open a gold IRA with Preferred Gold.
Gold IRAs allow investors to hold physical gold or gold-related assets in a retirement account, thus combining the tax benefits of an IRA with the protective benefits of investing in gold and making it an option for those looking to help protect their retirement funds against economic uncertainty.
When you make a qualifying purchase with Priority Gold, you can get up to $10,000 worth of precious metals for free.
If gold is the go-to for tumultuous moments, real estate is the long game — and no one knows that better than Trump himself.
Before politics, Trump came from a real estate family — and the asset class is a powerful tool for building and maintaining wealth, especially in times of inflation. This is because property values and rental incomes rise with the cost of living.
Unlike some other investments, real estate does not need the stock market to generate returns. Even during downturns, high-quality properties can generate rental income—offering a reliable stream of passive cash flow.
As Trump told Steve Forbes in 2011, “I just find that when you have the right piece of property, whatever it is, including location, it works well in good times and bad times (8).”
Like gold, real estate isn’t depreciating, at least in Trump’s eyes. And the right combination of both can keep you out of trouble even in the most difficult or uncertain times.
Not everyone has the resources of a Trump family member to get started in real estate: Although the payoff can be substantial, so is the investment — until now.
Today, you don’t really need to buy a property right away to benefit from real estate investing. Crowdfunding platforms like Arrival offer an easy way to get into this income-producing asset class.
Backed by world-class investors like Jeff Bezos, Ariad allows you to invest in rental housing shares with as little as $100, all without the hassle of mowing lawns, fixing plumbing or managing difficult tenants.
The process is simple: search a curated selection of homes that have been evaluated for their appreciation and income potential. Once you find a property you like, select the number of shares you want to buy and then sit back when you start receiving positive rental income distributions from your investment.
While the short-term and vacation rental market may seem bearish to some cautious investors, long-term multifamily and industrial rentals offer potentially more stable returns.
If diversification into multifamily and industrial leasing appeals to you, you may want to consider investing with Lightstone DIRECT, the new investment platform from Lightstone Group, one of the largest private real estate companies in the country with over 25,000 multifamily units in its portfolio.
Since they cut out the middlemen – brokers and money laundering intermediaries – accredited investors with a minimum investment of $100,000 can get direct access to basic quality multi-family opportunities. This streamlined model can help reduce fees while increasing transparency and control.
And with Lightstone DIRECT, you invest in single-asset multi-family deals alongside Lightstone – a true partner – as Lightstone puts at least 20% of its capital into each offering. All Lightstone investment opportunities undergo a rigorous, multi-step review before being approved by Lightstone principals, including founder David Lichtenstein.
How it works is simple: just sign up with your email, and you can call a capital formation specialist to evaluate investment opportunities. From here, all you have to do is verify your details to start investing.
Founded in 1986, Lightstone has a proven track record of strong risk-adjusted returns over market cycles with a historical net IRR of 27.6% and historical net equity of 2.54x since 2004. All told, Lightstone has $12 billion in assets involved in industrial management.
As such, even if multifamily rentals don’t appeal to you, Lightstone can serve you well as an investment vehicle for other real estate verticals.
Get started today with Lightstone DIRECT and invest in gaming with experienced skin experts.
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Prime Minister of Canada (1); WEF (2); Now Toronto (3); CBC (4); CNBC (5); @92ndStreetY (6); BBC (7); @ Forbes (8)
This article provides information only and should not be used as advice. It is provided without warranty of any kind.
