The time has come for Canada to reinvent its economy like it did in 1945, Finance Minister Francois-Phillipe Champagne said on Thursday.

“I often make an analogy between 2025 and 1945. In 1945, Canada reinvented itself, and I think this is one of those moments,” Champagne said, referring to the post-war industrial and construction boom in Canada.

“It’s a moment when we have to reinvent the Canadian economy,” Champagne said, speaking to reporters at the Liberal cabinet retreat in the Greater Toronto Area.

The urging comes as Canada continues to navigate the trade war launched by U.S. President Donald Trump earlier this year, which imposed significant tariffs on Canada and multiple specific sectors.

In response, Prime Minister Mark Carney ran an election campaign urging Canadians to

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