Trump touted a deal to avert new tariffs on Canada. Here's what we know so far

U.S. President Donald Trump greets Canadian Prime Minister Mark Carney as he arrives at the West Wing of the White House on May 6, 2025 in Washington, DC.Alex Wong | Getty Images News | Getty ImagesLess than two hours before massive U.S. tariffs on certain Canadian goods were set to switch on, President Donald Trump announced a tentative deal to stave off the new duties.The postponement could be just a brief respite for businesses who warn that the planned 50% tariffs on imports of wine, hockey sticks and a range of other Canadian products are already taking a toll.The new import taxes on about $20 billion worth of goods were unveiled last month in response to what the Trump administration described as Canadian trade discrimination against key U.S. industries. The tariffs were set to take effect Wednesday at 12:01 a.m. ET. But at 10:15 p.m. Tuesday, Trump announced on Truth Social that he would pause the tariffs for three days, "based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!"Trump's statement on the to-be-finalized deal included few details. But it hinted that an agreement with Canada could include restarting Keystone XL, the pl...