Trump postponed the introduction of tariffs against Canada
Customs tariffs were supposed to come into effect on August 19, when the American president signed a decree on their introduction.
Photo: Anna Moneymaker / Getty Images
"I have suspended 50 percent tariffs against Canada, which were due to come into effect on Wednesday morning, for three days, based on the fact that Canada and the United States, subject to final paperwork, have reached a DEAL!" — wrote US President Donald Trump on Truth Social.
The tariffs were supposed to come into effect on August 19, when the American president signed a decree on their introduction a month ago, writes the BBC.
Now, in his post, Trump mentioned the Keystone XL pipeline project, which, according to him, "could rise from the grave." In 2021, President Joe Biden revoked the permit for the pipeline's construction.
The tariffs were supposed to apply to goods such as dairy products, alcohol, and furniture. This accounts for about 5% of the total value of US imports from Canada last year, CNN notes.
Canadian Prime Minister Mark Carney and Trump held talks on Monday and Tuesday, with Carney describing them as "very delicate and intense." The US president planned to use a little-known law from the 1930s, which had not previously been applied to introduce tariffs.
The White House was expected to face legal challenges, but until the court issues its ruling, Trump will be able to apply this law.