U.S. President Donald Trump had paused a new round of 50-per-cent tariffs on Canadian goods that were scheduled to take effect today.
Trump announced the three-day suspension late Tuesday night, less than two hours before the midnight deadline. He said the pause had been based on a pending trade agreement between Canada and the United States, with final documents still needing to be completed.
The move followed weeks of intense negotiations between Canadian and U.S. officials aimed at preventing another escalation in trade tensions.
Prime Minister Mark Carney said Canada and the United States had made substantial progress, but stressed that important work remained before a final agreement could be reached.
The proposed tariffs would have affected approximately 20-billion U.S. dollars worth of Canadian goods, including products such as cement and hockey sticks.
The three-day pause had provided Canadian and U.S. negotiators with additional time to finalize the details of the agreement.
