U.S. and Canada announce they are close to trade deal

The United States and Canada announced Wednesday they are close to finalizing a broad trade agreement, a development that led President Donald Trump to suspend new tariffs on Canadian products for three days. Trump had threatened to impose a 50% tariff on a range of Canadian goods starting Wednesday, but a deal was reached hours before the midnight deadline.

"We have reached a deal with Canada," Trump told reporters in Washington, adding that it was "subject to the finalization of documents." The U.S. president's announcement signaled a significant step toward resolving trade tensions between the two neighboring countries.

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We have reached a deal with Canada.

Canadian Prime Minister Mark Carney adopted a more cautious tone, stating on social media that Ottawa and Washington "are moving toward an agreement." Carney congratulated his Minister of Trade, Dominic LeBlanc, and Trump's trade envoy, Jamieson Greer, for the "significant progress" made in the negotiations. The temporary tariff suspension provides a crucial window for both sides to solidify the terms of the accord.

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are moving toward an agreement.