Canada Eases Tariffs to Reignite Stalled US Trade Talks
Canada plans to lift some retaliatory tariffs on U.S. products as a conciliatory move to reignite stalled trade discussions. Canadian tariffs on U.S. autos, steel, and aluminum remain in place. Prime Minister Mark Carney will address the situation with further details in a scheduled press conference.
In a significant move to reopen stalled trade discussions, Canada has announced its decision to lift several retaliatory tariffs imposed on U.S. goods, according to a reliable source.
While tariffs on U.S. autos, steel, and aluminum will remain for now, the initiative aims at easing tensions and fostering dialogue. A press conference led by Prime Minister Mark Carney is expected to reveal further details at noon Eastern Time on Friday.
The Canadian dollar responded positively, climbing 0.5% to C$1.3837 against the U.S. dollar by late morning. Canada's exploration of a revised economic and security pact with the United States continues, although a final agreement remains elusive.
(With inputs from agencies.)
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