Trump Pauses Tariffs Against Canada Amid Trade Deal Progress

The Canadian dollar strengthened on Wednesday morning after US President Donald Trump announced he would pause implementing tariffs set to come into effect. Trump's decision was made public through his social media channels, where he claimed a deal between the countries had been reached and was waiting for finalization.

According to Trump, the 50% tariffs against Canada will be paused for three days. He also mentioned that the Keystone XL pipeline 'may be awoken from the grave!'

Canadian Prime Minister Mark Carney released a statement saying that 'substantial progress has been made, although there is important work still to be done.'