US President Donald Trump announced on Tuesday that he was suspending 50% tariffs on $20 billion (€17.27 billion) in Canadian goods after the two countries negotiated a last-minute agreement hours before the sanctions were set to take effect.
The declaration, issued by Trump on his social media channel, provides time for further negotiations and prevents another strain in already strained relations between the historic allies and direct neighbours.
“I have paused the 50% tariffs against Canada that were scheduled to go into effect tomorrow morning for a three-day period, based on the fact that Canada and the United States, subject to document finalization, have a DEAL!” Trump wrote on Truth Social less than two hours before the midnight Wednesday deadline.
If the tariffs had gone into effect as planned at 12:01 a.m. on Wednesday, Trump’s import taxes would have affected Canadian products ranging from hockey sticks to tongue depressors.Canadian Prime Minister Mark Carney and Trump had spoken on the phone twice in the last two days about the ongoing negotiations, including one on Tuesday afternoon, according to Carney’s office, highlighting the last-minute drive for an agreement.
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