A jump in Canadian energy exports to the U.S. and further weakening of the loonie saw Canada’s trade surplus with its neighbor balloon in December, helping the country to its first goods-trade surplus with the world in 10 months.

Canada saw its first trade surplus in ten months in December as exports continued to expand faster than imports, led by higher energy product exports, higher crude oil prices and partly by weaker local currency,

The Council on Canada-U.S. Relations will hold a summit in Toronto on Friday, Canadian Prime Minister Justin Trudeau said in a statement on Wednesday after a 30-day pause on the Trump administration's proposed tariffs went into effect this week.

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.