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.
On Tuesday night, US President Donald Trump announced that he was temporarily suspending 50% tariffs on Canadian imports, according to a post on his Truth Social platform. Trump stated that the tariffs, initially set to take effect on Wednesday, have been paused for a three-day period. This decision came after Canadian Prime Minister Mark Carney engaged in intense negotiations with Trump this week to avoid imposing the duties.
Carney noted that substantial progress had been made but acknowledged that further work was required to finalize the deal. The US Trade Representative's office provided limited details about the terms of the agreement, stating that it would encompass comprehensive market access for American goods, economic security commitments, and digital trade alignment, though specific details were not disclosed.
Trump also mentioned that the Keystone XL pipeline, which had been canceled under President Joe Biden, may be revived, carrying oil from Canada to the United States.
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