Prime Minister Justin Trudeau announced a temporary suspension of 25% tariffs on Canadian goods, coinciding with a similar deal made by President Trump with Mexico. Both countries seek to address the issue of fentanyl trafficking as part of negotiations. Trudeau highlighted the potential of retaliatory tariffs exceeding $100 billion if discussions failed. The temporary halt comes amid tensions, with Canada targeting goods significant to Trump's political base. The situation marks a pause in escalating trade tensions in North America.
Proposed tariffs will be paused for at least 30 days while we work together.
Canada's list of tariffed goods targeted Trump's political base, covering everything from Florida oranges and Kentucky bourbon to appliances.
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