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Washington, United States: US President Donald Trump paused the planned rollout of new tariffs on Canadian goods late Tuesday, as both sides indicated they were close to a broader trade agreement after weeks of talks.
Trump announced the three-day reprieve from 50-percent duties on select goods mere hours before a midnight deadline.
The delay was "based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump wrote on his Truth Social platform.
Carney was less definitive, saying "substantial progress has been made" towards a comprehensive trade deal, but "there is important work still to be done."
Ottawa and Washington have held intense negotiations on revising their existing deal, the United States-Canada-Mexico Agreement (USMCA), which Trump signed and praised during his first term but now says needs to change.
The US Trade Representative's office said on X that the pact between Washington and Ottawa is set to "include comprehensive market access for all American goods, economic security commitments, digital trade alignment" and other provisions.
A proclamation by Trump to pause the duties added that the suspension came about as "Canada has expressed a commitment to remove the discriminations or unreasonable and unequal impositions at issue."
Carney said the prospective deal aims to "address outstanding trade issues and deliver greater certainty and real benefits for Canadian businesses, workers, farmers and families."
