Trump Delays 50% Tariffs on Canada as Trade Deal Takes Shape
The Trump administration agreed to delay the implementation of 50% tariffs on a range of Canadian products for three days after intensive negotiations between the two countries showed signs of progress. The delay gives Washington and Ottawa additional time to finalize the documents needed to complete the trade agreement.
President Donald Trump said the tariffs were being paused because the United States and Canada had, in principle, reached a deal, although the final paperwork still needed to be completed. The announcement offered a positive signal after trade tensions between the two longstanding allies had intensified over Washington’s threat of steep tariffs.
The development could also help improve relations between two major trading partners that recorded nearly US$900 billion in bilateral trade last year. A finalized agreement may also support progress in the broader review of the North American trade framework, which also includes Mexico.
The White House had previously planned to impose tariffs on a range of Canadian goods, including hockey equipment, beer, milk, and plywood. The measures were based on Section 338 of the Tariff Act of 1930, which gives the US president authority to impose tariffs of up to 50% on countries considered to discriminate against American commerce.
The tariffs had been scheduled to take effect on August 19 after Washington gave Canada roughly a month to negotiate. Canada’s chief trade negotiator Janice Charette and cabinet minister Dominic LeBlanc remained in Washington through the weekend as both sides worked to reach an agreement before the deadline.(mrv)
Source : Newsmaker.id
