Trump says US and Canada strike deal, temporarily pauses 50% tariffs
The new tariffs would have affected about US$20 billion worth of Canadian imports. Businesses warned of job losses and disruption to vulnerable sectors including lumber, wine and dairy.
On August 18, U.S. President Donald Trump announced a three-day pause on new 50% tariffs on Canadian goods, following a deal between the two nations. The tariffs would have impacted approximately $20 billion worth of Canadian imports, affecting industries such as lumber, wine, and dairy. Canadian Prime Minister Mark Carney stated that substantial progress had been made, though more work remained to be done.
The deal includes comprehensive market access for American goods, economic security commitments, and digital trade alignment, among other provisions. However, details of the agreement were not disclosed by the U.S. or Canadian governments. Existing US auto tariffs were a significant point of contention, with Trump hinting at the potential revival of the Keystone XL pipeline. The trade dispute could complicate broader USMCA negotiations.
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- Trump says US and Canada strike deal, temporarily pauses 50% tariffs channelnewsasia.com
