- President Donald Trump announced a tentative deal to stave off new 50% duties on Canadian wine, hockey sticks and many other goods.
- Trump hinted that an agreement could include restarting Keystone XL, the planned oil pipeline from Alberta to Nebraska that was scrapped in 2021 by then-President Joe Biden.
- Trump signaled that a change in U.S. tariffs on Canadian autos could be part of the deal.
- Trump stated that Canadian tariffs "will be non-existent for our farmers," without specifying which duties he was referring to.
- According to senior executive branch officials, Canada has expressed a commitment to remove the discriminations or unreasonable and unequal impositions that spurred the 50% tariff threat.
President Donald Trump announced a tentative deal to avert a looming 50% tariff on Canadian goods, including wine and hockey sticks, just hours before the deadline.
The agreement may also involve restarting the Keystone XL pipeline, which was halted by President Biden in 2021. Trump stated, "The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!"34
Additionally, Trump indicated that changes to U.S. tariffs on Canadian autos could be part of the negotiations. When asked about lowering tariffs on Canadian autos, he remarked, "We're doing certain things."
Canadian officials have reportedly committed to removing discriminatory practices that led to the tariff threat. According to senior executive branch officials, this commitment is crucial for the deal's success.
U.S. Trade Representative Jamieson Greer emphasized that the deal will include comprehensive market access for all American goods, along with economic security commitments and digital trade alignment. He noted that the provisions aim to protect both American workers and Canadian partners.
As the deadline approached, the urgency of the negotiations highlighted the importance of U.S.-Canada trade relations, with both sides eager to avoid significant economic repercussions.
“Trump indicated that Canadian tariffs "will be non-existent for our farmers," although he did not specify which duties this refers to. Meanwhile, Canada has committed to addressing the issues that led to the 50% tariff threat, according to senior executive branch officials.”
CNBC
