Canada has temporarily avoided a 50 percent U.S. tariff after reaching a last-minute agreement with the Trump administration. President Donald Trump announced Wednesday night that he would pause the tariffs for three days while the two countries finalize the agreement. The duties would have affected roughly 20 billion dollars worth of Canadian goods. Canadian Prime Minister Mark Carney says substantial progress has been made, although negotiations are not finished.

Trump also raised the possibility of reviving the long-delayed Keystone XL pipeline, but provided few details and did not indicate whether the project is part of the agreement. The temporary reprieve follows months of strained trade relations between the two countries. A final agreement could provide greater certainty for businesses and agriculture, particularly farmers and ranchers who depend on cross-border trade and integrated North American supply chains.

By: NATHAN STUEDLECanada has temporarily avoided a 50 percent U.S. tariff after reaching a last-minute agreement with the Trump administration. President Donald Trump announced Wednesday night that he would pause the tariffs for three days while the two countries finalize the agreement. The duties would have affected roughly 20 billion dollars worth of Canadian goods. Canadian Prime Minister Mark Carney says substantial progress has been made, although negotiations are not finished.Trump also raised the possibility of reviving the long-delayed Keystone XL pipeline, but provided few details and did not indicate whether the project is part of the agreement. The temporary reprieve follows months of strained trade relations between the two countries. A final agreement could provide greater certainty for businesses and agriculture, particularly farmers and ranchers who depend on cross-border trade and integrated North American supply chains.

Canada avoids 50 percent tariff in last-minute deal