Urgent.News

One page, thousands of outlets. See who else covered it.

Editions

Business

Trump aplaza la entrada en vigor de los aranceles a Canadá tras alcanzar un acuerdo

El presidente estadounidense Donald Trump asegura que aplazará los aranceles estadounidenses del 50% sobre 20.000 millones de dólares en importaciones canadienses. Leer

Trump aplaza la entrada en vigor de los aranceles a Canadá tras alcanzar un acuerdo

U.S. President Donald Trump has delayed the implementation of 50% tariffs on $20 billion worth of Canadian imports, following the reach of an agreement between the two North American countries. Trump announced the development on his social media platform, stating that the deal was reached just hours before the tariffs were set to take effect.

This temporary pause, lasting three days, provides an opportunity for further negotiations and helps avoid heightened tensions in their bilateral relationship. Trump's decision to halt the tariffs came after Canada and the U.S. agreed to the deal, pending the finalization of documents. The tariffs would have affected around 5% of Canada's sales to the United States annually, encompassing products ranging from hockey sticks to language processors, wine, concrete, and the automotive sector, which could potentially amount to an economic impact of $20 billion.

However, the political implications might have been even more significant than the financial ones. Canada had threatened retaliatory measures against any new tariffs, potentially escalating an already tense trade dispute between two countries that exchanged goods and services worth $880 billion last year. Canadian Prime Minister Mark Carney stated that he would be speaking with Trump to avoid the tariffs, indicating that the Canadian government is prepared for any scenario.

Carney assured that negotiations were intense and delicate, without providing further details. He later released a statement confirming substantial progress in the talks, but acknowledging that work still needed to be done. The U.S. government justified the tariffs based on the claim of discriminatory treatment by Canada towards American exports, such as cars, alcohol, and dairy products, central to the ongoing negotiations.

Canadian Minister of Trade and Commerce Dominic LeBlanc and U.S. Secretary of Commerce Howard Lutnick met in Washington with other commercial representatives from both nations to secure an agreement prior to the implementation of the tariffs. Prime Minister Carney emphasized that Canada had prepared a response for every possible scenario.

The White House previously claimed that Trump was taking measures to force Canada to account for its ongoing discrimination and unreasonable and unequal treatment of U.S. trade, which has harmed and disadvantaged Americans who work hard. Carney responded that this decision by the Trump Administration fits into a series of unilateral trade actions by the United States, described as measures and threats to Canada's sovereignty.

Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Also reported by 1 other outlet

Read the original at expansion.com →

More in Business

More from Wednesday 19 August →