WASHINGTON — Finance Minister Dominic LeBlanc says Canada has suspended a second wave of retaliatory tariffs after U.S. President Donald Trump signed an executive order today to pause some duties on Canada.
LeBlanc posted on social media that Canada will not proceed with planned retaliatory tariffs on $125 billion worth of U.S. products and will continue to push the Trump administration to drop all tariffs.
Trump signed an executive order today pausing tariffs on some Canadian imports linked to the auto industry and lowering levies on potash to 10 per cent.
It was not immediately clear exactly what would be included in the exemptions.
Markets have been in turmoil since Trump followed through Tuesday on his threat to impose sweeping economy-wide tariffs on Canada and Mexico, with a lower 10 per cent levy on Canadian energy.
Trump says there will be "a little short term interruption" but he doesn't "think it will be big."
This report by The Canadian Press was first published March 6, 2025.
Kelly Geraldine Malone, The Canadian Press
