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Trump pauses tariffs on Canada, Mexico [Video]

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Canadian Economy and Markets

President Donald Trump on Monday agreed to pause the implementation of planned U.S. tariffs on imports from Canada for at least 30 days, Canadian Prime Minister Justin Trudeau said.

The pause was announced in a tweet by Trudeau hours after Trump and Mexico’s president said Trump would pause for one month planned tariffs on imports from Mexico.

In both cases, the pauses came after those countries agreed to take steps toward preventing the trafficking of the deadly opioid fentanyl into the U.S.

Trump on Saturday said he would impose 25% tariffs on goods from Mexico and Canada, and 10% tariffs on goods imported from China. Trump had also planned to impose a 10% tariff on energy resources from Canada.

Trudeau on Saturday warned that his country would implement a 25% tariff against $155 billion in U.S. goods in retaliation for Trump’s tariffs.

But in a tweet Monday announcing the pause, Trudeau …

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