- President Donald Trump announced a tentative deal to stave off new 50% duties on Canadian wine, hockey sticks and many other goods.
- Canadian and U.S. trade negotiators met on Wednesday after President Donald Trump paused planned 50% tariffs on some Canadian goods for three days, as sources said auto tariff levels remained a sticking point.
- The negotiators face a new deadline of 12:01 a.m. ET (0401 GMT) on Saturday, when tariffs on $20 billion worth of Canadian goods are scheduled to take effect if there is no deal.
- 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.
- U.S. Trade Representative Jamieson Greer stated that the deal "will include comprehensive market access for all American goods, economic security commitments, digital trade alignment, and many important provisions that will continue to protect our market and American workers, along with our Canadian partners."
- A White House proclamation said senior U.S. officials had been told Canada had committed to remove what Washington considers discriminatory or unequal treatment of U.S. alcoholic beverages, cheese and motor vehicles.
President Donald Trump announced a tentative deal to avert new 50% tariffs on Canadian goods, including wine and hockey sticks, just hours before the tariffs were set to take effect. The agreement comes as negotiators face a critical deadline for $20 billion in tariffs.34
Trump hinted that the deal could involve the Keystone XL Pipeline, which was canceled by President Biden in 2021. He stated, "The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!"56
Additionally, Trump indicated that changes to U.S. tariffs on Canadian autos might be part of the negotiations. When asked about lowering tariffs on Canadian autos, he responded, "We're doing certain things."
According to senior officials, Canada has committed to removing what the U.S. considers discriminatory practices against American goods, including alcoholic beverages and motor vehicles. A White House proclamation noted that Canada expressed a commitment to eliminate unreasonable impositions that led to the tariff threat.
U.S. Trade Representative Jamieson Greer stated that the deal would include comprehensive market access for American goods, economic security commitments, and provisions to protect American workers and markets alongside Canadian partners. The urgency of the negotiations is underscored by the impending deadline of 12:01 a.m. ET on Saturday, when tariffs on $20 billion worth of Canadian goods are scheduled to take effect if no agreement is reached.
“Trump hinted that the deal could include restarting the Keystone XL pipeline, which was scrapped in 2021. U.S. Trade Representative Jamieson Greer stated the agreement will ensure comprehensive market access for American goods and commitments for economic security and digital trade alignment.”
CNBC
