Trump eases trade war, Canada postpones imposition of tariffs on goods from US
Canada's Minister of Public Safety, Dominic LeBlanc (photo: Getty Images)
Canada has postponed the second phase of implementing retaliatory tariffs against the US. This comes after US President Donald Trump exempted Canadian and Mexican goods, covered under the North American Free Trade Agreement, from tariffs, reports Bloomberg.
According to the publication, Trump signed decrees that reduce tariffs imposed by his administration until April 2. In response, Canadian Finance Minister Dominique LeBlanc stated that the Canadian government would delay its plan to impose a 25% counter-tariff on US goods worth 125 billion Canadian dollars (87.4 billion USD). This list includes cars, steel, and aluminum. These tariffs were set to take effect around March 25, but the new date for their implementation is now April 2.
At the same time, Canada is maintaining the tariffs introduced on Tuesday. These tariffs affect goods worth approximately 30 billion Canadian dollars imported from the US.
