U.S. President Donald Trump announced that the additional 50% tariffs planned for Canada have been delayed for 3 days.
U.S. President Donald Trump shared an update on his social media account regarding the negotiation process between Washington and Ottawa. Trump stated that an agreement was reached between the two countries, provided that the documents are finalized, and said, “I have halted the 50% tariffs planned to take effect on Canada this morning for 3 days due to an agreement reached between Canada and the U.S. contingent on the completion of documents. The Keystone XL Pipeline project, halted by Joe Biden, may be reactivated.”
Canadian Prime Minister Mark Carney, in his statement on the matter, noted that significant progress has been made but there are still critical tasks to be completed. Carney mentioned that negotiations are continuing intensively and that contacts will be maintained to provide clarity and benefits for Canadian businesses, workers, farmers, and families.
A statement from the Canadian Prime Minister's Office indicated that Trump and Carney held a phone conversation discussing the tariffs expected to be imposed on Canadian goods valued at approximately 20 billion dollars.
On July 20, Trump signed an executive order foreseeing a 50% additional tariff on certain Canadian-origin products, citing discrimination against U.S. trade.
