Forex
US and Canada Close In on Trade Deal, Tariff Relief Expected
US and Canada are reportedly close to finalizing a comprehensive trade deal, after US President Donald Trump paused implementing new tariffs on Canadian goods.
In a press statement, Trump said 'We've come to a deal with Canada,' adding that the agreement is 'subject to finalisation of documents.'
Canadian Prime Minister Justin Trudeau's government has been pushing for relief from Trump's tariffs on autos, steel, aluminium, and forest products, which have hurt Canada's economy.
The US had originally planned to impose 50% tariffs on select Canadian goods, but Trump announced a three-day delay in implementing the new round of duties as both sides worked to finalize an agreement.