Canada Drops 25% Tariffs on $21 Billion US Goods

Canada is set to remove many retaliatory tariffs on U.S. goods in a strategic move to ease trade tensions and restart stalled discussions between the two countries. However, tariffs on key sectors such as American automobiles, steel, and aluminum will remain in place for the time being. Prime Minister Mark Carney is scheduled to provide further details during a press conference. The announcement has already positively impacted the Canadian dollar, which rose against the U.S. dollar. This development also coincides with ongoing talks about a revised economic and security pact between Canada and the United States, though no final agreement has been reached yet. The easing of tariffs represents a significant effort by Canada to foster improved trade relations with the U.S.