World
Trump suspends Canadian import tariffs for three days
U.S. President Donald Trump announced a temporary suspension of 50% tariffs on Canadian goods following an agreement between the two countries.
On the night of Tuesday, September 18, U.S. President Donald Trump announced a three-day suspension of the new 50% tariffs on Canadian goods that were set to take effect at midnight.
Trump's announcement came after several rounds of negotiations between the United States and Canada, resulting in significant progress toward a trade agreement.
One hour after Trump's announcement, Canadian Prime Minister Mark Carney issued a statement indicating that there had been 'substantial progress' in the negotiations between the two countries.
Trump's decision could potentially avoid up to $20 billion in tariffs on Canadian imports, according to various sources.
While the suspension of tariffs is temporary, Trump mentioned that a pipeline project between the two countries could present new opportunities, although he did not provide specific details.
The suspension of import tariffs represents a shift in the dynamics of trade relations between the U.S. and Canada, signaling a step forward in negotiations that have been intense and prolonged.