US President Donald Trump announced that the United States reached a preliminary trade agreement with Canada, averting a threatened 50 percent tariff that was set to take effect.

Following a conversation with Canadian Prime Minister Mark Carney, Trump agreed to a three-day pause on the new duties to finalize the documentation. Trump stated to reporters that under the deal, tariffs on exports by US farmers and businesses entering Canada would be non-existent. While Canadian Prime Minister Carney noted that "substantial progress has been made," both sides acknowledged that critical details remain to be finalized, particularly concerning the auto sector and potential adjustments to existing Section 232 tariffs on Canadian vehicles.
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