OTTAWA, Canada – Prime Minister Justin Trudeau announced the highly anticipated Canada-US Economic Summit, set to take place in Toronto, Ontario, on February 7, 2025. This pivotal event aims to foster business growth and investment in Canada through collaboration with the Council on Canada-US Relations.
“While proposed tariffs from the United States have been paused for 30 days, we now have a significant opportunity to establish a lasting prosperity agenda for Canada—one that is resilient, reduces barriers between provinces and territories, and diversifies our global trade,” announced the Prime Minister’s Office.
The Canada-US Economic Summit will build upon the initiatives of the Prime Minister’s Council on Canada-US Relations, bringing together leaders in trade, business, public policy, and organized labor. These leaders will leverage their sectoral expertise to explore strategies to enhance Canada’s economy, streamline internal trade, diversify export markets, and boost productivity. The Summit will facilitate greater coordination and cooperation among partners through targeted discussions.
“Canada ranks as the ninth-largest economy globally, boasting world-class talent, critical minerals, and a vibrant tech ecosystem. The Canada-US Economic Summit embodies our ambition to fully unleash economic growth,” the Prime Minister emphasized.
The Canadian government, alongside businesses, organized labor, civil society, and millions of Canadians nationwide, is united in the mission to build a stronger economy, create more jobs, and ensure long-term prosperity for all citizens.
Prime Minister Trudeau stated:
“The Canada-US Economic Summit represents Team Canada at its finest. We aim to connect partners across various sectors to boost our economy, generate more jobs, facilitate trade, and seek diverse export markets. Our goal is to make Canada the preferred choice for businesses, investors, and workers.”
Quick Facts:
Canada and the US are each other’s largest trading partners, with nearly $3.6 billion worth of goods and services exchanged daily in 2023.
Supported by an investment of $1.3 billion, Canada’s Border Plan focuses on enhancing border security, strengthening the immigration system, and contributing significantly to the nation’s economic future.
Last year, over $530 billion worth of goods and services traversed provincial and territorial borders, accounting for nearly 20 percent of Canada’s gross domestic product.
On January 17, 2025, Prime Minister Trudeau held the inaugural meeting of the newly formed Council on Canada-US Relations. This Council, comprising leading figures in business, innovation, and policy, will advise the Prime Minister and Cabinet on matters concerning Canada-US relations and potential tariff threats.
The Committee on Internal Trade includes federal, provincial, and territorial ministers responsible for internal trade and oversees the implementation of the Canadian Free Trade Agreement (CFTA), addressing disputes and managing the annual budget of the Internal Trade Secretariat.
