Washington: US President Donald Trump announced a three-day postponement of new 50% tariffs on Canadian imports, just two hours before they were scheduled to take effect. The tariffs would have impacted $20 billion worth of goods.

According to National Iraqi News Agency, Trump stated that the decision was made “based on the fact that Canada and the United States have reached an agreement, subject to the completion of paperwork.” The negotiations between the two countries are primarily focused on the automotive, steel, aluminum, and dairy sectors.

In addition to these sectors, discussions also include the possibility of reviving the Keystone XL pipeline project, which was previously canceled during the Biden administration. The delay in tariffs is seen as a positive step towards finalizing a comprehensive trade agreement between the two neighboring nations.