India's exports to US remain unchanged after a year of Trump's tariffs

U.S. President Donald Trump has halted the implementation of new tariffs on Canadian goods, following intense negotiations between the two nations. The temporary suspension of the planned 50% duties would last for three days, according to a statement from the U.S. leader on social media. The deal between Canada and the United States appears to be a success, as Trump tweeted: "The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!"

The suspension of tariffs comes after Trump held urgent talks with Canadian Prime Minister Mark Carney, hours before the tariffs were set to take effect. Trump had previously imposed the duties on Canada in an attempt to address what he perceived as "discriminatory treatment" against U.S. products, such as alcohol, automobiles, and dairy.

The tariffs target around 5.5% of Canada's exports to the United States, valued at approximately $20 billion. While this may pose a minor economic risk to Canada, it could significantly impact central Canada's manufacturing sector. Canadian negotiators have been working with U.S. officials to secure a deal and relieve the sector-specific duties that have affected Canada's auto, steel, lumber, and aluminum industries.

Ottawa has reportedly offered concessions, including pressuring provinces to reintroduce US alcohol and wine products. The U.S. trade envoy, Jamieson Greer, stated that the tariffs were intended to hold Canada accountable for its retaliatory actions against the U.S.