Trump Suspends Planned 50% Tariff on Canada for Three Days

Just a day before a 50% tariff on Canadian products was set to take effect, U.S. President Donald Trump announced a temporary suspension of the tariff.

Writing on his social media platform Truth Social at past 10 p.m. Eastern Time on the 18th, President Trump stated, "I have temporarily suspended the 50% tariff on Canada, which was scheduled to take effect tomorrow morning, for three days."

He added, "This is because Canada and the United States have reached an agreement, subject to final document finalization," and noted, "The great Keystone XL Pipeline, which was long ago killed by Sleepy Joe Biden, may rise from the dead."

Previously, President Trump warned last month that Canada was engaging in trade discrimination in the automotive, alcohol, and dairy industries, and threatened to impose a 50% tariff on Canadian imports.

The tariffs, which were scheduled to go into effect on the 19th, would directly impact 20 billion U.S. dollars (approx. 28 trillion won) worth of Canadian goods exported to the United States.

Canadian Prime Minister Mark Carney reportedly held back-to-back phone calls with President Trump for two consecutive days in an effort to dissuade him.

The Keystone XL project is a 1,931-kilometer (1,200-mile) crude oil pipeline construction venture connecting Alberta, Canada, to Nebraska, United States.

The project faced fierce opposition from environmental groups and others over concerns that it would cause environmental pollution.

President Barack Obama rejected the project in November 2015 citing environmental concerns, but President Trump re-approved it via executive order in January 2017.

However, as soon as Joe Biden assumed the presidency in 2021, he halted the project, and TC Energy, the operator of the Keystone pipeline, withdrew from the venture.

(Photo: AP, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.