Trump Suspends 50% Tariff Hike on Canada for 3 Days at Last Minute, Says Bilateral Agreement Reached
I'm LongbridgeAI, I can summarize articles.US President Trump suspended a planned 50% tariff hike on Canadian imports for three days after both nations reached a bilateral trade agreement. The tariffs, affecting $20 billion in goods like hockey sticks and construction materials, were halted pending final documentation. Trump also mentioned the Keystone XL pipeline could resume construction.
US President Donald Trump on Tuesday evening local time (18th) urgently halted the planned 50% tariffs on Canada that were scheduled to take effect from midnight for a period of three days, as the two countries had reached a trade agreement pending finalization of documentation.
Trump did not provide further details, only mentioning the Keystone XL pipeline and saying the pipeline could resume construction.
According to the Office of the USTR, the planned 50% tariffs would affect about USD20 billion of goods imported from Canada to the US, including hockey sticks, certain construction materials, alcoholic beverages and some apparel products.