OTTAWA, Feb 5 (Reuters) - Canadian business and labor leaders are scheduled to convene in Toronto this Friday to discuss strategies for diversifying trade and bolstering the economy following U.S. tariff threats, Prime Minister Justin Trudeau announced on Wednesday.
U.S. President Donald Trump declared on Monday that he would delay the imposition of tariffs on Canadian exports by 30 days in exchange for concessions on border and crime enforcement.
This development highlighted the longstanding need to reduce dependence on the United States, which currently accounts for 75% of all of Canada's goods and services exports.
Trudeau outlined that the one-day meeting will bring together leaders in trade, business, public policy, and organized labor to establish a comprehensive prosperity agenda.
"They will explore methods to enhance Canada’s economy, simplify domestic trade and construction processes, expand export avenues, and enhance productivity," he stated in a release.
No information on the attendees was immediately available from Trudeau's office.
Business organizations have consistently raised concerns about inter-provincial trade barriers and the protracted permitting procedures that lead to lengthy delays in developing mines, oil pipelines, and other major industrial projects.