Prime Minister Justin Trudeau has called a last-minute summit in Toronto on Friday to respond to the threat of American tariffs and protectionism, one that will discuss ways to diversify Canada’s international trade beyond the United States and tap new sources of economic growth and investment.
One of U.S. President Donald Trump’s goals in threatening tariffs on allies, Canadian officials have repeatedly said, is to force investors to relocate manufacturing to the United States – at the expense of America’s trading partners. Mr. Trump has also vowed to cut taxes and regulations, measures that could make the U.S. a more attractive market for businesses.
Mr. Trump temporarily stayed steep tariffs on Canada on Monday for 30 days after Ottawa agreed to more measures to fight the illegal production and distribution of fentanyl. But other protectionist threats from the Republican White House include talk of more tariffs on steel, aluminum and …