Finance & Economics

Donald Trump Announces Pause on US Tariffs on Canada

President of the United States Donald Trump is pausing the imposition of planned tariffs on goods imported from Canada.

Donald Trump Announces Pause on US Tariffs on Canada

Mr. Trump announced the mentioned decision in a message posted on the digital platform Truth Social. The tariff pause for Canadian products will last at least 30 days. Donald Trump said that this pause is necessary to see if the final economic deal with Canada can be structured.

The announcement of the pause of levies decision on Canadian goods was made after a telephone conversation between the President of the United States and Canadian Prime Minister Justin Trudeau on Monday, February 3.

Mr. Trudeau posted a message on the digital X platform in which he stated that in exchange for a tariff pause, Ottawa will create a Canada-US Joint Strike Force to combat organized crime, fentanyl, and money laundering, appoint a so-called Fentanyl Czar, and join the United States in listing cartels as terrorist groups.

Justin Trudeau also noted that he signed a new intelligence directive on organized crime and fentanyl, and the country will be backing it with $200 million.

Donald Trump stated that he was very pleased with the mentioned initial outcome. He also drew attention to the border commitments made by Canada. It was noted that Ottawa has agreed to ensure a secure northern border and to finally end the deadly scourge of drugs like fentanyl that have been pouring into the United States, killing hundreds of thousands of Americans, while destroying their families and communities all across the US.

Also, Donald Trump paused tariffs on goods imported from Mexico.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.