The tariff wars have triggered a world provide chain shift, creating a chance for buyers to take part in a brand new development cycle. An export-led financial system like Canada can be collaborating on this commerce shift. It’s actively searching for new commerce companions to export its wealthy vitality and mineral assets.
Nevertheless, these assets are positioned within the centre of Canada (Alberta and Saskatchewan), away from the seashore. To make these assets out there for exports to Asian international locations, Canada has to construct logistics corridors that may transport these assets to the shore. It additionally has to construct ports and terminals to ship the assets.
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Canada’s 2026 nation-building efforts
With the US returning to exporting Venezuelan oil, it has grow to be crucial for Canada to diversify commerce companions. The federal government is focusing its finances and assets on creating the infrastructure, and the prime minister is assembly with different international locations to signal new commerce offers.
Final 12 months, we noticed the announcement of the finances for infrastructure growth, a brand new laws, and the formation of a devoted authorities workplace to expedite the implementation of main tasks. This 12 months, you may see new order wins across the main tasks accepted by the federal government. You can see the signing of commerce offers, consolidation within the minerals and mining business, as giant gamers develop capability.
All these nation-building efforts may create alternatives for the Canadian financial system to trip the cyclical development. Listed below are three TSX shares that might see some upswing from any commerce developments in 2026.
Canada’s mining inventory in focus
Cameco (TSX:CCO) is the world’s second-largest uranium producer and accounts for 17% of the worldwide uranium provide. Uranium is a gas for nuclear energy vegetation. This can be a unstable sector, as any nuclear incident impacts nuclear enlargement plans. For example, Cameco’s income fell between 2015 and 2021 after the 2011 Fukushima incident.
The rising demand for clear vitality, particularly within the synthetic intelligence growth, has revived nuclear vitality enlargement. Within the meantime, Cameco is increasing vertically within the provide chain. It provides gas companies by refining uranium and changing it into gas to produce to nuclear vitality vegetation. In partnership with Brookfield Asset Administration, Cameco has acquired 49% stake in nuclear energy plant builder Westinghouse Electrical.
In November 2025, Westinghouse received an $80 billion contract from the U.S. authorities to construct civil nuclear reactors. This drove Cameco’s replenish greater than 60% between November and January 2026. As reported in a Forbes article dated February 1, 2026, Prime Minister Mark Carney is scheduled to go to India in March to speak a couple of 10-year uranium provide deal. Cameco’s share worth may soar if this deal and extra such offers materialize.
Fowl Building
Fowl Building (TSX:BDT) is a cyclical inventory to learn from Canada’s infrastructure growth. The development firm’s share worth surged 400% between October 2022 and October 2024 on the again of sturdy undertaking execution that elevated working money movement at a compounded annual development charge of 47%. This development excludes Canada’s nation-building investments.
The brand new federal funding presents new development alternatives for Fowl Building. The inventory is buying and selling close to its all-time excessive, hinting that buyers have already priced within the $10 billion backlog. Nevertheless, there are extra development alternatives within the subsequent three to 5 years, making it a inventory to purchase at any dip.
TC Power
The timing to spin off its oil pipeline enterprise couldn’t have been good for TC Power (TSX:TRP). Leveraging its power in constructing pure fuel pipelines, the corporate introduced $8.3 billion price of tasks on-line, over 15% below finances. Its inventory is rising as North America sees file energy demand from knowledge centres, coal-to-gas conversions, and liquified pure fuel (LNG) exports. TC Power expects North American pure fuel demand to extend from 45 billion cubic toes per day (Bcf/d) in 2025 to roughly 170 Bcf/d by 2035.
Its inventory has surged 75% since October 2024, after the spin-off, using the vitality infrastructure rally. Canada’s push in direction of expediting main tasks, together with the LNG Canada Section 2 Mission, will assist elevated capability of LNG exports. TC Power is a inventory to purchase on the seasonal dip in the course of the summer time and maintain for the long run.