U.S. President Donald Trump late Tuesday evening suspended the imposition of 50 percent tariffs on a range of Canadian goods that were set to take effect at midnight.
In a social media post, he wrote that the pause would last three days, as Canada and the U.S. had "reached a deal" subject to the finalization of documents.
Trump mentioned the possible resumption of the Keystone XL pipeline project but did not disclose details of the agreement.
The Office of the United States Trade Representative clarified that the deal provides for full access for American goods to the Canadian market, economic security commitments, alignment on digital trade, and other measures to protect American workers.
Canadian Prime Minister Mark Carney confirmed that the delay would last until the end of the day on Friday. According to him, significant progress has been made, although important work remains.
The tariffs would have affected imports worth approximately 20 billion dollars—ranging from hockey sticks and construction materials to liqueurs and clothing.
The negotiations lasted more than a week and were described as very delicate and intense. Carney noted that the goal is to ensure greater certainty and real benefits for Canadian businesses, workers, farmers, and families.
The threat of tariffs marked the first application of Section 338 of the Tariff Act of 1930, which allows for the imposition of duties of up to 50% on countries that discriminate against American trade.
The Canadian side sought not only to cancel these duties but also to reduce existing tariffs on steel, aluminum, and automobiles.
The U.S. Chamber of Commerce warned that without an agreement, the tariffs would harm both economies, raise prices for American families, and jeopardize 13 million jobs that depend on the North American trade pact.
