Economy

Economic Commentary

Economic Calendar

Global Economies

Global Economic Calendar

Biden, Trudeau Try to Smooth Over Differences

U.S. President Joe Biden will seek to repair relations with Canada that have been strained by disputes over trade and an oil pipeline as he meets virtually with Prime Minister Justin Trudeau on Tuesday.

The two leaders plan to unveil a road map on how to improve cooperation on a range of topics, from global alliances to the coronavirus, according to an unnamed senior U.S. official.

As part of that effort, Biden and Trudeau will announce a forthcoming ministerial meeting on climate and the resumption of the Cross-Border Crime Forum, an annual gathering of top law enforcement officials from each country to examine ways to collaborate on counterterrorism and efforts to combat smuggling, and organized crime.

There are also plans for additional announcements related to Canada coming this week from the U.S State Department and Department of Transportation according to the official, who didn’t discuss the substance of those plans.

The meeting, set for late afternoon, comes at a time when Canadians have become increasingly uncertain about where they stand with their closest ally. After four years of bruising trade battles with Donald Trump, the Biden administration already has canceled a permit for TC Energy Corp.’s (TSX:TRP) Keystone XL oil pipeline and threatened new “Buy American” provisions for government procurement contracts.