President Donald Trump has paused the imposition of 50% tariffs on certain Canadian imports for three days, just before the duties were set to take effect at midnight.
Trump stated that this was based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a 'DEAL!'
This announcement follows trade talks between Trump and Canadian Prime Minister Mark Carney.
Trump also suggested that the Keystone XL pipeline could be 'awoken from the grave!'
The 50% tariffs would have impacted imports of hockey sticks, wine, and an array of other Canadian imports, unveiled last month in response to what the Trump administration called Canadian trade discrimination.
The new tariffs would have covered roughly $20 billion worth of Canadian imports, according to the Office of the U.S. Trade Representative.
Dan Kelly, president of the Canadian Federation of Independent Business, noted that a 50% tariff essentially makes a product uneconomic to sell into a particular market.
Trump has already imposed a variety of tariffs on Canada and its specific exports.
