U.S.-Canada trade talks avert 50% tariffs on $20 billion goods
Canadian Prime Minister Mark Carney and U.S. President Donald Trump held last-minute negotiations to avoid 50% U.S. tariffs on $20 billion of Canadian exports, including hockey sticks and liquor, set for a Wednesday deadline. The tariffs, invoked under the rarely-used Section 338 of the Tariff Act of 1930, were paused for three days after progress toward a deal. The dispute stems from U.S. allegations of Canadian trade discrimination in alcohol, autos, and dairy. Existing tariffs already cover Canadian steel, aluminum, and lumber.