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Top executives from Canada's major grocery chains have agreed to work with the federal government on stabilizing prices, Industry Minister François-Philippe Champagne said on Monday, but few details have been divulged about how that will be achieved.
Champagne and Finance Minister Chrystia Freeland met with executives from Loblaw, Metro, Empire, Walmart and Costco on Monday morning.
"They have agreed to support the government of Canada in our efforts to stabilize food prices in Canada," Champagne told reporters after the meeting.
Calling the meetings historic and constructive, the industry minister said he told the grocery CEOs "in no uncertain terms" that Canadians expect them to take action.
Prime Minister Justin Trudeau announced last week that Ottawa is asking major Canadian grocers to come up with a plan by Thanksgiving to stabilize prices. Trudeau warned that if the plan is not good enough, the federal government will take further action — and it is not ruling anything out, including tax measures.
Speaking to reporters Monday afternoon, Trudeau reiterated the federal government is going to make sure the major grocers have a plan.
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