Trump Says Canada Deal Is Close, Tariffs Paused for 72 Hours

President Trump announced late Tuesday that the planned

President Trump announced late Tuesday that the planned 50% tariffs on Canadian steel and aluminum would be delayed for three days, just 90 minutes before the midnight deadline. In a social media post, he cited ongoing negotiations and expressed optimism that a final agreement with Canada is within reach.

The temporary reprieve follows intense last-minute talks between U.S. and Canadian officials over trade terms and border security. A senior administration official said the pause was granted to allow working groups to finalize technical details, including rules of origin for metals and a joint mechanism to curb illegal migration.

Canadian Deputy Prime Minister Chrystia Freeland confirmed the development in a brief statement, calling it "a constructive step" but cautioning that "significant differences remain." She added that Ottawa would continue preparations for retaliatory measures should the talks collapse.

Market analysts reacted cautiously to the news, with

Market analysts reacted cautiously to the news, with steel and aluminum futures dipping slightly after an initial surge. "Investors are reading this as a positive signal, but the volatility is far from over," said Maria Chen, a trade economist at the Brookings Institution. "The 72-hour window is short, and the stakes are high for both economies."

The tariffs, originally set to take effect at 12:01 a.m. Wednesday, were part of a broader trade strategy targeting what the White House describes as unfair subsidies in Canada's metals sector. The pause marks the second time in a month that the president has adjusted the tariff timeline, following a similar delay in early March.

While the White House frames the move as a win for diplomatic leverage, critics argue the repeated flip-flops undermine predictability for businesses. "Companies cannot plan around a 72-hour reprieve," said trade lawyer James O'Rourke. "They need clarity, not last-minute suspensions."

Both sides are expected to resume talks Wednesday

Both sides are expected to resume talks Wednesday morning, with a deadline of Friday midnight. If no deal is reached, the tariffs will snap back into effect, along with Canada's promised dollar-for-dollar countermeasures on U.S. goods.