Trump says he’s pausing new tariffs for three days

U.S. president Donald Trump took to social media late Tuesday evening to say Canada and America are close to a trade deal and so he will pause new 50% tariffs that were to go into effect August 19th.

The tariffs, set to be applied on billions of dollars worth of goods, would have hit certain segments of the Canadian economy hard, including cut flowers and hockey sticks.

President Trump also said the Keystone XL Pipeline, cancelled in 2021, might be revived as part of the deal. That pipeline, delayed for many years before its cancellation, was to carry hundreds of thousands of barrels of oil per day from Alberta to Nebraska.

The United States Trade Representative social media said the coming trade deal “will include comprehensive market access for all American goods, economic security commitments, digital trade alignment, and many important provisions that will continue to protect our market and American workers, along with our Canadian partners.”

UPDATE: Canadian Prime Minister Mark Carney posted to social media late Tuesday saying “substantial progress has been made, although there is important work still to be done… While we continue this work, Canada remains focused on building a stronger, more independent, and more competitive economy at home.” No details on the concessions Canada may have made have yet been made public.

CHCH News will have more on this on Morning Live, chch.com and the Evening News.