Canada will hold off imposing counter-tariffs on C$125 billion in U.S. goods, Finance Minister Dominic LeBlanc said Thursday, after U.S. President Donald Trump agreed to suspend levies on Canadian exports covered by a North American trade agreement.
“Canada will not proceed with the second wave of tariffs on $125B of U.S. products until April 2nd, while we continue to work for the removal of all tariffs,” LeBlanc, who is leading Canada’s trade negotiations with its neighbour, posted on X.
A first phase of Canadian retaliatory tariffs on $30 billion worth of U.S. goods went into effect Tuesday after Trump slapped 25 per cent levies on most Canadian imports into the United States.
These will remain in effect, a Canadian government source said.
Earlier Thursday, Trump signed orders to delay levies for imports covered by the United States-Mexico-Canada Agreement (USMCA), providing some reprieve to companies and consumers after blowback on financial markets.
Prime Minister Justin Trudeau said Ottawa will remain in a trade war with Washington for “the foreseeable future” even if there are “breaks for certain sectors.”
“Our goal remains to get these tariffs, all tariffs removed,” he added.
