US, Canada reach trade deal to avert steep tariffs, Trump says | Business and Economy News
Trump Pauses Tariffs on Canadian Exports Ahead of Midnight Deadline
President Donald Trump announced late Monday that the United States will temporarily suspend the implementation of a 50 percent tariff on Canadian exports. The announcement came just before the midnight deadline for the tariffs to take effect.
The proposed duties would have affected a wide array of Canadian goods, including electronics, industrial machinery, furniture, and dairy products. This pause is intended to give both nations time to finalize a deal.
In a post shared on Truth Social, 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!”
Additionally, Trump referenced the Keystone XL Pipeline in his post, suggesting the project could be revived.
Further details are expected as the situation develops.
