Trump hits pause on new Canada tariffs
The president announced late Tuesday night that the two governments had reached an initial agreement to avert the 50 percent duty.
US President Donald Trump has delayed imposing 50% tariffs on Canadian goods for three days, citing a preliminary deal between the two countries. The tariffs, which were set to take effect at midnight, would have covered a wide range of Canadian goods, including wine, hockey sticks, and cement. According to Trump, the decision to pause the tariffs was made "based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!"
The announcement came after urgent talks between Trump and Canadian Prime Minister Justin Trudeau, not Mark Carney as per RTHK News - Finance. The two leaders, along with trade negotiators, have been engaged in intense talks to resolve several issues, including US tariffs on autos and Canadian provinces banning American liquor sales.
The potential trade deal may also involve the revival of the Keystone XL pipeline, a long-stalled project that was blocked under President Joe Biden. Trump expressed optimism about the pipeline's possible resurrection, writing that it "may be awoken from the grave!"
Brief written by urgent.news from Politico EU, RTHK News - Finance, Business Recorder, Global News, BBC World — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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