Trump says US, Canada reached deal to delay 50% tariffs
WASHINGTON — U.S. President Donald Trump said Tuesday he was delaying the 50 percent U.S. tariffs on $20 billion worth of Canadian imports after the two countries reached a last-minute deal less than two hours before the sanctions were to go into effect. The announcement, which Trump made on his social media platform, buys time for more negotiations and avoids, for now, another strain in already…
On Tuesday, U.S. President Donald Trump announced that the 50 percent tariffs on $20 billion worth of Canadian imports would be delayed, as the two nations reached a last-minute agreement less than two hours prior to the sanctions taking effect. This move was made by Trump on his social media platform, Truth Social, aiming to buy time for further negotiations and prevent further deterioration in the already tense relationship between the historic allies.
In a post, Trump stated, "I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" If the tariffs had gone into effect at 12:01 a.m. Wednesday, they would have affected Canadian products such as hockey sticks and tongue depressors.
However, the political ramifications of this decision could have been more significant than the economic impact. Canada had threatened to retaliate with its own trade barriers, which could have exacerbated the trade dispute between the countries that exchanged goods worth $880 million daily.
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