Trump announces temporary halt in 50 percent tariffs on Canada, says reached ‘last-minute’ deal
Trump's import taxes would have hit about 5 per cent of what Canada ships to the United States every year.
President Donald Trump announced on Tuesday that he is temporarily suspending 50 percent US tariffs on USD 20 billion worth of Canadian imports. The decision comes after the two countries reached a last-minute agreement just hours before the sanctions were set to take effect. The move aims to give negotiators more time to work out the details and prevent another setback in the already strained relations between the two historic allies.
On Tuesday evening, Trump posted on his social media platform, Truth Social, revealing that the 50 percent Tariffs against Canada would be paused for a three-day period, pending the finalization of legal documents. The tariffs would have affected approximately 5 percent of Canada's annual shipments to the United States, encompassing a wide range of products, from hockey sticks to tongue depressors.
However, the political ramifications of the potential tariffs could have been even more significant, as Canada had threatened reciprocal measures in response, potentially worsening an already contentious trade dispute between the nations, which exchanged USD 880 billion worth of goods and services last year.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
