Trump pauses 50% scheduled tariffs on Canada for three days, announces 'deal' with Ottawa
Trump has already imposed a variety of tariffs on Canada and its specific exports, including metals, lumber and auto parts.
TL;DR
- President Trump has paused 50% tariffs on Canadian imports just before their scheduled implementation.
- Trump announced on Truth Social that a 'DEAL!' is in the works with Canada.
- The tariffs were a response to alleged Canadian trade discrimination in specific industries.
- The proposed tariffs would have affected about $20 billion in Canadian imports.
- Canadian businesses expressed concern that the tariffs could halt their U.S. sales.
- Trump also suggested the Keystone XL pipeline could be revived.
- The tariffs were to be imposed under a rarely used law from the Tariff Act of 1930.
- Previous tariffs on metals, lumber, auto parts, and alleged drug-trafficking have been imposed on Canada.
- The U.S. Chamber of Commerce warned that new tariffs would harm both economies and U.S. jobs.