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US pauses 50% tariffs on Canadian goods after reaching trade deal

Market News
18 Aug 2026
Fox Business
View Source
Bullish
pluang ai news

President Donald Trump announced a temporary pause on the 50% tariffs scheduled to hit Canadian imports, following a trade deal agreement pending final documentation. The tariffs, set to affect about $20 billion in goods including vehicles, dairy, and liquor, were paused just hours before implementation. This move comes after discussions between Trump and Canadian Prime Minister Mark Carney, aiming to resolve trade disputes related to tariffs and quotas on American-made vehicles. The pause signals progress in US-Canada trade relations, with further updates expected as the deal is finalized.

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