Liberal Leader Mark Carney emerged from a meeting with his Canada-U.S. committee in Ottawa Friday warning the global economy is starting to slow, and saying he’s directed officials to prepare for negotiations with the Trump administration.

Carney said the 90-day pause, and Trump’s pledge to negotiate new trading arrangements with dozens of countries, “will likely result in a fundamental restructuring of the global trading system.”

Canadian Prime Minister Mark Carney on Thursday said he would convene a meeting of top cabinet colleagues on Friday to discuss the threat posed to the economy by U.S. tariffs.