Canada delays second wave of U.S. tariffs after temporary trade truce

Finance Minister Dominic LeBlanc announced Thursday that Canada will pause its second wave of tariffs on U.S. goods until April 2, following the U.S. decision to suspend duties on Canadian exports under USMCA for the same period.

The delayed tariffs would have targeted $125 billion in American imports.

In a post on X, LeBlanc said Canada will use the time to push for all U.S. tariffs to be lifted.

This follows Trump’s move to temporarily halt tariffs on USMCA-covered Canadian goods, though duties paid earlier in the week were not refunded. While Canada’s initial retaliatory tariffs remain in place, the second wave would have escalated the trade dispute further.

The Canadian government has not indicated whether it will proceed with its next round of tariffs if U.S. duties resume after April 2.