Trump hits pause on Canada tariffs threat, and hints at revival of Keystone XL oil pipeline project
US president delays 50% tariffs by three days, and says contentious oil project ‘may be awoken from the grave’
TL;DR
- Canada and the US reached a temporary agreement, avoiding a 50% tariff on $20 billion in goods.
- President Trump announced a three-day pause on the tariffs, citing progress towards a deal.
- The potential revival of the Keystone XL pipeline project was hinted at by President Trump.
- Previous trade tensions included US tariffs in February 2025 and Canadian retaliatory measures, followed by US tariffs in July 2026.
- The United States-Mexico-Canada (USMCA) deal previously protected certain goods from import taxes, but not from the latest round of tariffs.