US, Canada reach deal that pauses 50% tariffs, Trump says
Donald Trump said the deal, reached the day before 50% tariffs were set to take effect, could also revive the controversial Keystone XL pipeline project.
US President Donald Trump announced on Tuesday night that he is temporarily suspending 50% tariffs on Canadian imports, with the US and Canada nearing a trade deal. The tariffs, initially set to take effect on Wednesday, have been paused for a three-day period. Trump claimed that the deal has been reached with Canada, subject to finalizing documents.
Canadian Prime Minister Mark Carney had been engaging in intense negotiations with Trump this week to avoid the duties. Both countries have made substantial progress, but there is still work to be done, according to Carney. The US Trade Representative's office revealed that the deal would encompass comprehensive market access for American goods, economic security commitments, and digital trade alignment, though it did not provide specific details.
Trump also expressed hope that the Keystone XL pipeline, which was canceled under his predecessor Joe Biden, might be revived, allowing oil to flow from Canada to the US.
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