President Donald Trump announced on August 18 a three-day pause on 50 percent tariffs that threatened approximately $20 billion worth of Canadian imports into the United States. These tariffs, invoked under Section 338 of the Tariff Act of 1930, would have targeted Canadian automobiles, steel, aluminum, and dairy products. The specific terms of the provisional agreement remain undisclosed, with both countries given 72 hours to formalize the details. The Keystone XL pipeline was mentioned as a potential bargaining chip in these negotiations. This agreement comes against the backdrop of the first comprehensive review of the USMCA, the trade pact that replaced NAFTA in 2020.
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