Trudeau hosting summit today aimed at boosting economy amid Trump tariff threats
With Canada not yet out of the woods when it comes to U.S. tariffs, Prime Minister Justin Trudeau is meeting with Canadian business and labour leaders this morning in Toronto to chart a way forward.
The Canada-U.S. Economic Summit will “find ways to galvanize our economy, create more jobs and bigger paycheques, make it easier to build and trade within our borders and diversify export markets,” said the prime minister in a statement earlier this week.
“We want businesses, investors and workers to choose Canada.”
After a tense weekend, U.S. President Donald Trump announced Monday afternoon he was shelving his promise to impose 25 per cent tariffs on Canadian goods for at least a month, with Canada offering a plan to address Trump’s border security and crime concerns.
As the clock ticks down until tariffs could be back on the table, Friday’s summit is expected to dig into how to improve trade within Canada.
Industry players have long complained that it’s easier to do business with other countries than other provinces, largely due to regulatory barriers including differences in licensing requirements.
Calls to fix the regulations that are often criticized as a hindrance to internal trade have been around for decades, but have gained momentum in the wake of Trump’s protectionist views.
They include prohibitive barriers such as restrictions on the sale of alcohol, technical barriers such as vehicle weight standards and regulatory barriers such as licensing and paperwork requirements.
Anand suggests trade barriers will come down
Internal Trade Minister Anita Anand suggested earlier this week Canadians could see movement on the file before Trump’s pause comes to an end.
During a news conference on Wednesday, a reporter asked Anand if “interprovincial trade barriers [could] be dealt with, wiped away in 30 days?”
“The short answer to your question is yes,” she responded.
The summit is also expected to dive into how to attract investment in Canada at this precarious moment.
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