Canada’s Finance Minister Dominic LeBlanc announced on Thursday that the country would postpone the second wave of retaliatory tariffs on $125 billion worth of US goods until April 2. However, he confirmed there would be no immediate removal of the existing $30 billion tariffs, according to Reuters.
This move follows an executive order issued by US President Donald Trump earlier in the day, exempting goods from Canada and Mexico covered by the North American trade agreement (USMCA) from the 25% tariffs that were imposed earlier this week.
In a separate development, Canada has outlined plans to introduce tolls on US trucks heading into Alaska from British Columbia, signaling continued pressure on the US until tariffs are lifted.
Market Reaction
At the time of writing, the USD/CAD pair has dropped by 0.12%, trading at 1.4290.
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