Canadian Prime Minister Mark Carney issued a statement on Tuesday night about President Donald Trump’s decision to postpone 50% tariffs on Canada. He explained that both countries have made significant progress toward an agreement, but there was still work to be done. He also vowed to build a stronger and more competitive Canadian economy.
“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,” read Carney’s statement.
“Substantial progress has been made, although there is important work still to be done,” said Carney. “As this work is ongoing, the United States has agreed to postpone the implementation of its 50% tariffs on a range of Canadian goods under Section 338 of the U.S. Tariff Act of 1930 until end of day, August 21st.”
Carney’s words come after Trump announced his decision to delay the tariffs late Tuesday night, as the Washington Examiner previously reported.
“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 finalization of documents, have a DEAL!” Trump said in a Truth Social post.
Trump originally announced the tariffs on July 20, and they were scheduled to take effect at 12:01 a.m. on August 19th.
“Today, President Donald J. Trump signed three Proclamations pursuant to Section 338 of the Tariff Act of 1930 to impose additional 50% tariffs on certain goods of Canada in response to Canada’s discriminatory treatment of American products,” read a fact sheet issued by the White House regarding the tariffs. “By doing so, President Trump is offsetting the burden and disadvantage on U.S. commerce from Canada’s discriminatory treatment of U.S. commerce and is leveling the playing field for crucial American exports—cars, alcohol, and dairy.”
TRUMP PAUSES 50% TARIFFS ON CANADA HOURS BEFORE DEADLINE
The tariffs would have affected billions of dollars on a variety of Canadian imports, “ranging from wine to hockey sticks to cement.”
“The United States, under President Trump’s leadership, did not agree to renew the United States-Mexico-Canada Agreement (USMCA) in its current form, because the deal is not sufficiently beneficial for the United States,” the White House touted in its announcement of the Canadian tariffs in July.
“President Trump’s America First Trade Policy was created to benefit American workers and families,” read the White House fact sheet. “It has dramatically expanded global market access for U.S. exports, strengthened workers’ incomes, reshored and supported American jobs, and reduced the trade deficit.”