
David Kawai/Bloomberg images via Getty Images
Hours before 25% tariffs on Canada were set to take effect, the country's prime minister said the U.S. and its northern neighbor have reached an agreement to delay the import taxes.
Canadian Prime Minister Justin Trudeau wrote on social media platform X that his country will "launch a Canada-U.S. Joint Strike Force to combat organized crime, fentanyl and money laundering." He wrote that in exchange for the delay of 30 days on proposed tariffs, Canada and America will “launch a joint strike force to combat organized crime, fentanyl, and money laundering.”
Donald Trump, the president of the United States confirmed this deal on Truth Social.
"I am very pleased with this initial outcome, and the Tariffs announced on Saturday will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured," Trump wrote.
The change of course came hours after Donald Trump and Mexican President Claudia Sheinbaum struck a deal similar to this. The 10% tariff will still be in effect starting Tuesday as of Monday.
The post was updated on Feb. 3rd, 2025 to include a comment by President Donald Trump
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