Canada to host summit on boosting economy after Trump tariff threat

Canadian business and labor leaders will meet in Toronto this Friday to discuss diversifying trade and boosting the economy in the wake of U.S. threats to impose tariffs, Prime Minister Justin Trudeau said on Wednesday. 

U.S. President Donald Trump on Monday said he would delay the imposition of tariffs on Canadian exports by 30 days in return for concessions on border and crime enforcement. 

The move underlined long-standing calls for measures to reduce reliance on the United States, which takes 75% of all Canada's goods and services exports. 

Trudeau said the one-day meeting would group leaders in trade, business, public policy, and organized labor to build what he called a long-term prosperity agenda. 

"(They) will explore ways to grow Canada's economy, make it easier to build and trade within the country, diversify export markets, and rejuvenate productivity," he said in a statement. 

Trudeau's office did not immediately respond to a request for a list of attendees. 

Business groups have long complained about internal trade barriers between the 10 provinces and a drawn-out permitting process that means it can take years to develop and build mines, oil pipelines and other major industrial projects.  (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)