Trump Postpones 50% Tariffs on Canada as Trade Talks Continue

Canadian Prime Minister Mark Carney issued a statement on Tuesday night regarding President Donald Trump's decision to postpone 50% tariffs on Canada. The tariffs, which were scheduled to take effect at 12:01 a.m. on Wednesday, would have affected billions of dollars in Canadian imports ranging from wine to hockey sticks to cement.

The postponement was announced just hours before the deadline, with Trump stating that he had paused the tariffs 'based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!'

Carney's statement noted that both countries have made significant progress toward an agreement but acknowledged that there is still work to be done. He vowed to build a stronger and more competitive Canadian economy.