U.S. president-elect Donald Trump will not impose threatened tariffs on Canadian goods immediately, according to several U.S. reports.
The news came within hours of Trump being sworn in as 47th President of the United States.
According to a Reuters report, an unnamed Trump official confirmed the president will not impose tariffs immediately upon taking office and will instead issue a memo to “direct agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations.”
The official said the memo would single out China, Canada and Mexico for scrutiny but won’t announce new tariffs.
Trump’s tariffs have been a source of anxiety for Canadian producers since he first threatened them in November.
A lack of day-one tariffs delays the possibility of a U.S.-Canada trade war. Prime Minister Justin Trudeau confirmed last week the federal government would not rule out a dollar-for-dollar response.
