Trump pauses 50% tariffs on goods from Canada, says two sides have a deal

US President Donald Trump has paused the implementation of 50% tariffs on Canadian goods that were set to take effect. The tariffs, which would have impacted a wide range of Canadian products, including wine, hockey sticks, and cement, were delayed for a three-day period.

According to Trump, the decision to pause the tariffs was made after Canada and the US reached a deal, subject to the finalization of documents. The two countries have been engaged in intense trade negotiations, with Canadian Trade Minister Dominic LeBlanc and chief negotiator Janice Charette working with their American counterparts in Washington, D.C.

The tariffs were initially set to be imposed on nearly $20 billion worth of Canadian imports, which would have affected about 5% of Canadian exports to the US. The delay comes after a series of discussions between Trump and Canadian Prime Minister Justin Trudeau's government, although according to RTHK News - Finance, Trump held urgent talks with Canadian Prime Minister Mark Carney on Tuesday. The US and Canada exchange around $880 billion worth of goods and services annually.

Brief written by urgent.news from Business Recorder, RTHK News - Finance, Global News, Times of India, BBC Business — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.