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With Ottawa and Washington continually engaged in discussions over the 50 per cent tariff on a select range of Canadian goods, Prime Minister Mark Carney said that the implementation of the tariffs has been postponed until August 21.
Sharing the remarks in a letter posted on X, Prime Minister Carney reassured that while rigorous engagements remain in place with Washington, Canada remains focused on building a stronger, more independent, and more competitive economy at home. "Over the last number of weeks, Canada has engaged in intensive discussions with the United States to address outstanding trade issues and deliver greater certainty and real benefits for Canadian businesses, workers, farmers and families," he said. The Canadian Prime Minister observed that while significant headway has been made, key work remains to be done. "Substantial progress has been made, although there is important work still to be done. As this work is ongoing, the United States has agreed to postpone the implementation of its 50% tariff on a range of Canadian goods under Section 338 of the U.S. Tariff Act of 1930 until the end of day, August 21," he said. https://x.com/MarkJCarney/status/2089917753620578567?s=20 The announcement comes in the nick of time as the Trump administration's latest round of tariffs was originally scheduled to take effect at 12:01 a.m. Eastern Time on Wednesday. According to Canadian public broadcaster CBC, the levies would have applied to hundreds of products worth more than USD 28 billion, from plywood and cement to wine and hockey sticks. His remarks come shortly after US President Donald Trump on Tuesday (local time) announced a three-day pause on the 50 per cent tariffs on Canadian imports that were due to take effect the following morning, saying the United States and Canada had reached a deal subject to the finalisation of documents. In a post on Truth Social, Trump said, "I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalisation of documents, have a DEAL!" The three-day pause is expected to provide additional time for negotiations between the two countries. Talks intensified last week, with Canadian officials holding discussions with Trump's negotiating team in Washington. (ANI)
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