- Trump had previously threatened 50-percent tariffs on about $20 billion worth of Canadian goods, but delayed them late on Tuesday, hours before they were set to take effect.
- In a social media post, Trump wrote that the tariffs were on hold for 'a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!'
- Canadian Prime Minister Mark Carney said only that 'substantial progress' had been made toward a deal, with 'important work still to be done.'
President Donald Trump has delayed the implementation of 50-percent tariffs on $20 billion worth of Canadian goods, which were scheduled to take effect shortly. The announcement came late Tuesday, just hours before the tariffs were set to be enforced.12
In a social media post, Trump stated that the tariffs would be on hold for 'a three day period', citing 'substantial progress' in negotiations with Canada. He emphasized that the delay was contingent upon the finalization of documents, suggesting that a deal is imminent.
Canadian Prime Minister Mark Carney acknowledged the progress made, noting that while there has been significant movement towards an agreement, 'important work still to be done.' The potential deal could also revive discussions surrounding the Keystone XL oil pipeline, which has been a contentious issue in U.S.-Canada relations.
The tariffs, which Trump had previously threatened, reflect ongoing tensions in trade relations between the two countries. The postponement indicates a willingness to negotiate further, as both sides seek to finalize terms that could benefit their economies.
“Trump announced the tariffs are on hold for 'a three day period' pending finalization of a deal, emphasizing the urgency of negotiations. Meanwhile, Canadian Prime Minister Mark Carney acknowledged 'substantial progress' but noted that 'important work still to be done' remains.”
