US Delays 50% Tariffs on Canada Amid Trade Deal Talks

US Trade Representative announced on social media that an agreement has been reached to delay the imposition of 50% tariffs on Canada for three days. The deal will include comprehensive market access for all American goods, economic security commitments, and digital trade alignment.

Canadian Prime Minister Mark Carney stated that 'substantial progress' had been made but more work remains. He emphasized that Canada is focused on building a stronger, more independent economy at home.

Candace Laing, president of the Canadian Chamber of Commerce, welcomed the tariff delay as providing some relief for both countries but noted it doesn't bring certainty to a signed interim deal. She urged negotiators to keep up their work and sense of urgency.

Chris Swonger, president of the Distilled Spirits Council of the United States, expressed appreciation for Trump's efforts to restore access for American spirits products across Canada, which have been impacted by provincial bans following Trump's earlier tariffs. He encouraged leaders on both sides to reach a negotiated solution that gets American spirits back on Canadian shelves and returns the sector to a zero-for-zero tariff framework.

Trump had previously imposed tariffs on various Canadian goods, including hockey sticks and honey, with top trade officials from Ottawa working in Washington to hammer out a deal. The talks also touched on existing tariffs targeting steel, aluminum, lumber, and autos.