OTTAWA — Prime Minister Mark Carney and President Donald Trump announced late Tuesday night the U.S. would delay new 50 per cent tariffs on Canadian goods by three days, although the leaders gave differing accounts as to whether the two sides had an agreement in place.

Less than two hours before the threatened Section 338 tariffs on US$20 billion worth of imports were due to take effect, Trump announced in a social media post that he had paused them “for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!”

If there is a deal, the details are scant. In a presidential proclamation published by the White House, the president said “senior executive branch officials” had informed him that “Canada has expressed a commitment to remove the discriminations or unreasonable and unequal impositions” regarding dairy, motor vehicles and provincial bans on U.S. alcohol that had led him to threaten the new duties. But the White House did not provide specifics on why it delayed the levies ordered under the Tariff Act of 1930, also known as the Smoot-Hawley Tariff Act, beyond saying it was in the public interest. The tariffs are now due to take effect at 12:01 a.m. EDT on Saturday.

Carney, however, issued a statement saying only that the U.S. had agreed to delay the tariffs as both sides keep talking, and made no mention of an agreement. “Over the last number of weeks, Canada has engaged in intensive discussions with the United States to address outstanding trade issues and deliver greater certainty and real benefits for Canadian businesses, workers, farmers, and families,” the statement said. “While we continue this work, Canada remains focused on building a stronger, more independent, and more competitive economy at home.”

Candace Laing, president and CEO of the Canadian Chamber of Commerce, welcomed the reprieve but urged negotiators to keep going. “Let’s be clear: the tariff delay provides relief on both sides of the border. Businesses may not be closing up shop with this news, but an extension doesn’t bring the certainty that a signed interim deal would,” Laing said in a statement Tuesday night.

“We know that stability is in short supply and businesses will take any ounce they can get,” said Laing, who is a member of Carney’s Advisory Committee on Canada-U.S. Economic Relations. “This limbo state is not anyone’s preferred outcome—time is of the essence. We commend the negotiating team for their work and sense of urgency this week, and call on them to keep it up: ultimately, a resilient and integrated North American economy would be a stronger one for all.”

In his social media post, Trump hinted at a role for the Keystone XL pipeline expansion project previously thwarted by two of his Democratic presidential predecessors, Barack Obama and Joe Biden. “The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!” he wrote.

Calgary-based South Bow, which spun off from previous proponent TC Energy, said earlier this year it was looking at an expansion to the pipeline that would use previously built infrastructure that already has Canadian permits. In March, Alberta MP Corey Hogan, the parliamentary secretary to Natural Resources Minister Tim Hodgson, said the proposed expansion, which could increase exports of Canadian crude south of the border by 12 per cent, “has always been one of the cards that Canada has in our deck.” 

Meanwhile, the office of U.S. Trade Representative Jamieson Greer also mentioned having reached a “deal” with Canada. “Congratulations Mr. President,” it said in a social media post. “The deal will include comprehensive market access for all American goods, economic security commitments, digital trade alignment, and many important provisions that will continue to protect our market and American workers, along with our Canadian partners.”