ALBAWABA - U.S. President Donald Trump announced on Wednesday that Washington would pause the rollout of fresh tariffs on selected Canadian goods.
This comes after talks between Canada and the U.S., where Trump decided to hold off on imposing 50 percent tariffs on some Canadian goods until August 21.
The reprieve from Trump's 50-percent duties was "based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" the U.S. leader announced via the Truth Social platform.
On the other hand, Canadian Prime Minister Mark Carney said regarding the halting of the tariffs, "Substantial progress has been made, although there is important work still to be done".
U.S. tariffs. (Shutterstock)
Carney noted that the two countries made progress, yet much negotiation should be done to completely lift tariffs on all goods.
In July, the U.S. leader agreed to impose a 50-percent duty on Ottawa, after alleging "discriminatory treatment" by Canada against American alcohol, automobile and dairy products.
The new tariffs target about 5.5 percent of Canada's exports to the U.S., worth about $20 billion, Oxford Economics suggested.
