Days after tariff turn, Trudeau announces Canada-US economic summit to take place on Friday

The summit will look at ways to grow Canada’s economy, expand trade within the country, diversify export markets and address productivity, Trudeau’s statement said, adding that it would also seek to increase coordination between partners.

It was on February 1, when US President Donald Trump issued three executive orders implementing 25 per cent tariffs on America’s neighbours — Mexico and Canada — and 10 per cent tariffs on goods from China.

These tariffs were expected to come into effect on Tuesday (February 4), but Trump being Trump, just hours before the tariffs were to come into effect they were paused for Canada and Mexico. However, tariffs on China are still set to go ahead, though the White House said Trump is due to talk to President Xi Jinping.

The pause comes amid strained relations, with Canada retaliating by imposing tariffs on $107 billion worth of US goods. Trudeau also struck agreements with Trump, including appointing a fentanyl czar, listing Mexican cartels as terrorist groups, and launching a “Canada-US Joint Strike Force” to combat organised crime and fentanyl. Trudeau said, “Canada is implementing our $1.3 billion border plan… Nearly 10,000 frontline personnel are and will be working on protecting the border.”

Trump responded on Truth Social, saying, “Canada has agreed to ensure we have a secure northern border, and to finally end the deadly scourge of drugs like fentanyl… I am very pleased with this initial outcome… The tariffs announced on Saturday will be paused for a 30-day period to see whether or not a final economic deal with Canada can be structured.”

(With inputs from Reuters)