The tariff wars have triggered a global supply chain shift, creating an opportunity for investors to participate in a new growth cycle. An export-led economy like Canada is also participating in this trade shift. It is actively seeking new trade partners to export its rich energy and mineral resources.
However, these resources are located in the centre of Canada (Alberta and Saskatchewan), away from the seashore. To make these resources available for exports to Asian countries, Canada has to build logistics corridors that can transport these resources to the shore. It also has to build ports and terminals to ship the resources.
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Canada’s 2026 nation-building efforts
With the United States returning to exporting Venezuelan oil, it has become necessary for Canada to diversify trade partners. The government is focusing its budget and resources on developing the infrastructure, and the prime minister is meeting with other countries to sign new trade deals.
Last year, we saw the announcement of the budget for infrastructure development, a new legislation, and the formation of a dedicated government office to expedite the implementation of major projects. This year, you could see new order wins around the major projects approved by the government. You could see the signing of trade deals, consolidation in the minerals and mining industry, as large players expand capacity.
All these nation-building efforts could create opportunities for the Canadian economy to ride the cyclical growth. Here are three TSX stocks that could see some upswing from any trade developments in 2026.
Canada’s mining stock in focus
Cameco (TSX:CCO) is the world’s second-largest uranium producer and accounts for 17% of the global uranium supply. Uranium is a fuel for nuclear power plants. This is a volatile sector, as any nuclear incident affects nuclear expansion plans. For instance, Cameco’s revenue fell between 2015 and 2021 after the 2011 Fukushima incident.
The growing demand for clean energy, especially in the artificial intelligence boom, has revived nuclear energy expansion. In the meantime, Cameco is expanding vertically in the supply chain. It offers fuel services by refining uranium and converting it into fuel to supply to nuclear energy plants. In partnership with Brookfield Asset Management, Cameco has acquired 49% stake in nuclear power plant builder Westinghouse Electric.
In November 2025, Westinghouse won an $80 billion contract from the U.S. government to build civil nuclear reactors. This drove Cameco’s stock up more than 60% between November and January 2026. As reported in a Forbes article dated February 1, 2026, Prime Minister Mark Carney is scheduled to visit India in March to talk about a 10-year uranium supply deal. Cameco’s share price could jump if this deal and more such deals materialize.
Bird Construction
Bird Construction (TSX:BDT) is a cyclical stock to benefit from Canada’s infrastructure boom. The construction company’s share price surged 400% between October 2022 and October 2024 on the back of strong project execution that increased operating cash flow at a compounded annual growth rate of 47%. This growth excludes Canada’s nation-building investments.
The new federal funding presents new growth opportunities for Bird Construction. The stock is trading near its all-time high, hinting that investors have already priced in the $10 billion backlog. However, there are more growth opportunities in the next three to five years, making it a stock to buy at any dip.
TC Energy
The timing to spin off its oil pipeline business couldn’t have been perfect for TC Energy (TSX:TRP). Leveraging its strength in building natural gas pipelines, the company brought $8.3 billion worth of projects online, over 15% under budget. Its stock is rising as North America sees record power demand from data centres, coal-to-gas conversions, and liquified natural gas (LNG) exports. TC Energy expects North American natural gas demand to increase from 45 billion cubic feet per day (Bcf/d) in 2025 to approximately 170 Bcf/d by 2035.
Its stock has surged 75% since October 2024, after the spin-off, riding the energy infrastructure rally. Canada’s push towards expediting major projects, including the LNG Canada Phase 2 Project, will support increased capacity of LNG exports. TC Energy is a stock to buy at the seasonal dip during the summer and hold for the long term.
