President Donald Trump has temporarily pulled the United States and Canada back from another major escalation in their trade fight, announcing a tentative agreement less than two hours before sweeping new tariffs on roughly $20 billion worth of Canadian goods were scheduled to take effect.
The planned 50% tariffs, targeting Canadian products including wine, hockey sticks and other imports, were supposed to begin at 12:01 a.m. ET Wednesday. Instead, Trump announced at 10:15 p.m. Tuesday that he was delaying the duties for three days while Washington and Ottawa work to finalize an agreement. "Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump wrote on Truth Social.
