Trump pauses new tariffs on Canada and says countries close to a deal
Summary
President Donald Trump announced a three-day delay in new 50% tariffs on Canadian goods while the US and Canada finalize a trade deal. The deal may also allow the revival of the Keystone XL oil pipeline, which was previously blocked by past US administrations.Key Facts
- President Trump paused new 50% tariffs on nearly $20 billion of Canadian imports for three days.
- The US and Canada are close to finalizing a trade agreement after intense talks since July.
- The new tariffs were set to apply to Canadian products like wine, dairy, cement, clothing, and hockey equipment.
- Existing US tariffs on Canadian steel, aluminum, autos, and lumber remain in place.
- A possible part of the deal is reducing US auto tariffs from 25% to 15%, with disputes over vehicle eligibility.
- The trade deal might allow restarting the Keystone XL pipeline connecting Canadian oil to the US.
- Canadian provinces control alcohol sales, and some banned US liquor in response to prior US tariffs.
- Business groups warn that higher tariffs would harm both US and Canadian economies and jobs.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
