Late Tuesday, an agreement between the United States and Canada prevented the application of new 50 percent tariffs on Canadian goods like beer and cheese. These tariffs were initially announced by President Donald Trump last month and were set to be implemented at 12:01 a.m. Wednesday.
The introduction of such steep tariffs would have intensified trade tensions between the U.S. and Canada, which is a critical trading partner. However, the recent deal has temporarily halted these measures. The pause on tariffs, as stated by Trump, will last three days while the agreement is finalized.
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