President Donald Trump has announced that Canada has won a three-day reprieve from the threatened 50% tariffs, while negotiations continue.
Trump mentioned that the 830,000 bpd Keystone XL oil pipeline may be revived as part of an agreement.
Canadian Prime Minister Mark Carney confirmed that "substantial progress" has been made, but important work remains.
Washington has offered to cut its 25% tariff on Canadian-made vehicles to 15%, but Ottawa believes that is still too high.
Keystone XL is Trump's deal-sweetener to facilitate negotiations with Canada.
