Trump pauses planned 50% tariffs on Canadian goods for three days

U.S. President Donald Trump has temporarily halted plans to impose 50% tariffs on Canadian goods for a period of three days, according to a statement on his Truth Social platform. The delay was announced after negotiations between the two countries, which concluded with a deal subject to final documentation, according to Trump. The tariffs were initially set to take effect the following day, but were postponed amid ongoing discussions, as confirmed by Canadian Prime Minister Mark Carney, who spoke with Trump on Tuesday afternoon.

The move comes after Trump signed orders for the tariffs last month, citing Canada's alleged discrimination against U.S. alcohol, automobile, and dairy products. The tariffs would have affected around 5.5% of Canada's exports to the U.S., valued at approximately $20 billion, according to estimates from Oxford Economics. Canadian negotiators had requested relief from Trump's sector-specific duties, which have impacted various Canadian industries, including automotive, steel, lumber, and aluminum.