Canadian business and labor leaders will meet in Toronto this Friday to discuss diversifying trade and boosting the economy in the wake of U.S. threats to impose tariffs, Prime Minister Justin Trudeau said on Wednesday.

The summit aims to boost Canada’s economy, expand domestic trade, diversify export markets, and address productivity challenges. Trudeau emphasized that it would also strengthen coordination among key partners.

With the threat of punishing tariffs on pause but still hovering over the Canadian economy, Prime Minister Justin Trudeau announced the government will host a Canada-U.S. Economic Summit later this week,