Washington, DC [US], August 20 (ANI): US President Donald Trump on Wednesday (local time) said the United States and Canada have reached a trade deal, with tariffs on Canadian imports expected to be reduced to zero for American farmers, subject to the finalisation of documents.
"We had a very good conversation with the Prime Minister last night, and we've come to a deal with Canada," Trump told reporters on the South Lawn while speaking about the negotiations with Canadian Prime Minister Mark Carney.
Trump said the 50 per cent tariffs that were scheduled to take effect on Canadian goods had been held back for three days to allow the two sides to finalise the agreement.
"It's all subject to finalisation of documents. So subject to the finalisation of documents, we have a deal with Canada, and I think it's a very good deal for both--both parties," he said.
The US President said the agreement would eliminate tariffs on Canadian imports affecting American farmers.
"The tariffs will be non-existent for our farmers. Our farmers were paying tremendous tariffs into Canada, and those tariffs are going to be totally eviscerated, down to zero," Trump said.
He added that American farmers and manufacturers would benefit from the agreement.
"Our farmers are going to be thrilled, our manufacturers are going to be thrilled, and basically we have no tariffs going into Canada anymore," Trump said.
Asked about tariffs on steel, Trump said the two sides were working on certain measures and that the existing tariffs would be reduced.
"We're doing certain things. They were paying a high number; we're reducing it a little bit. It's good for everybody," he said.
Trump's remarks came after Canadian Prime Minister Mark Carney said Washington had agreed to postpone the implementation of the 50 per cent tariff on a range of Canadian goods until the end of August 21.
"Substantial progress has been made, although there is important work still to be done. As this work is ongoing, the United States has agreed to postpone the implementation of its 50% tariff on a range of Canadian goods under Section 338 of the U.S. Tariff Act of 1930 until the end of day, August 21," Carney said in a letter posted on X.
The latest US tariffs were originally scheduled to take effect at 12:01 a.m. Eastern Time on Wednesday and would have covered hundreds of Canadian products.
Trump had earlier announced a three-day pause on the tariffs, saying the US and Canada had reached a deal subject to the finalisation of documents.
The pause is expected to give negotiators additional time to complete the agreement. (ANI)
Trump says US, Canada reach trade deal, tariffs on farmers to drop to zero
