Brookfield Infrastructure Partners LP (TSX: BIP-A) on Wednesday said it is considering investments in US manufacturing operations, just days after Liberal Party leader Mark Carney won Canada’s federal election.

The firm said it was looking into investing in companies building new plants following President Trump’s tariff implementation — moves that could reshape Canada-US economic relations just as Carney prepares to take office.

The announcement came amid existing scrutiny over Carney’s financial assets. The former Brookfield Asset Management vice chair placed his holdings, which included nearly $7 million in stock options from the company, into a blind trust in March after winning the Liberal leadership.

And curiously, it was made after Monday’s election, when Carney secured a minority government victory on an anti-Trump platform. The election campaign had centered heavily on how Canada would respond to Trump’s threatened tariffs and annexation threats.

Brookfield Chief Executive Sam Pollock told analysts the company sees opportunities in critical industries like semiconductors, batteries, and solar panels as companies reshore manufacturing to the US.

“This is typically going to be for more critical industries such as semiconductors, as well as batteries, solar panels,” Pollock stated. “Things that are in the interest of Western nations to bring back.”

For Brookfield’s Canadian operations, Pollock suggested minimal direct impact from tariffs, as the firm’s cash flows are tied to long-term contracts.

Carney had campaigned on promises to diversify Canada’s trade relationships and reduce dependence on the US.

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