Decision comes after Mexico was granted a 30-day reprise
Photo: White House, Public domain, via Wikimedia Commons
Canada and the United States have agreed to delay tariffs for 30 days, according to a social media post from Prime Minister Justin Trudeau.
The decision follows a call held between the Prime Minister and President Donald Trump on Monday afternoon. Earlier in the day Trump had announced a pause on tariffs against Mexico following a call with Mexican President Claudia Sheinbaum and a Mexican commitment to deploy national guard units at their Northern Border.
Tariffs were set to take effect on Tuesday morning, and would have involved 25 per cent tariffs on all Canadian imports with the exception of energy, which would see 10 per cent penalties added. Canada had outlined a response targeting $30 billion in American goods which would rise to $155 billion later in the month.
Read more: Mexico secures tariff delay, Ontario targets Musk | Wealth Professional
While initially citing the US trade deficit with Canada as well as border security and fentanyl, Trump also brought up banking fairness on Sunday night. The US President argued that Canada does now allow US banks to operate here claiming that “Canada’s been very abuse of the United States for many years.”
