Canada will fast track the approval process for a new ‌proposed crude oil export pipeline to its west coast that could generate over C$20 billion ($14 billion) a year in GDP, Prime Minister Mark Carney said on Thursday.

The pipeline, which was announced in July, is a crucial part of Carney’s bid to diversify the ​economy away from the United States and help lessen the effect of Donald Trump’s tariffs.

Carney said ​Ottawa would officially list the Pacific Link pipeline as a project of national interest, ⁠which enables it proceed through a single federal regulatory review process. He said Ottawa aimed to complete the ​process by September 1, 2027.