President Donald Trump said Tuesday he was delaying the 50% U.S. tariffs on $20 billion worth of Canadian imports after the two countries reached a last-minute deal less than two hours before the sanctions were to go into effect.
“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!” Trump posted on Truth Social.
If they had gone into effect as scheduled at 12:01 a.m. Wednesday, Trump’s import taxes would have hit Canadian products ranging from hockey sticks to tongue depressors.
But the political impact would likely have been bigger than the economic one. Canada had threatened to retaliate against any new tariffs with levies of its own, aggravating a trade fight between countries that sold each other $880 billion worth of goods and services last year.
A White House proclamation said Canada had expressed a commitment to remove measures the Trump administration considers discriminatory against U.S. alcohol, dairy and motor vehicle exports. Canada did not immediately confirm those commitments.
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