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,

The Canadian prime minister said the country has a $1.3 billion border plan and 10,000 "frontline personnel" protecting the border.

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.