According to CoinMeta, President Trump announced on Wednesday that a temporary agreement had been reached to avoid new tariffs on Canadian goods. The agreement was struck less than two hours before the tariffs, totaling about 50% on Canadian goods worth approximately $20 billion, were set to take effect on Wednesday. Trump stated that the details of the agreement have not yet been fully finalized, but it may include the reinstatement of the Keystone XL pipeline project that was canceled by the Biden administration. Canadian Prime Minister Justin Trudeau said in a statement that both sides made substantial progress on the agreement, but there is still important work to be completed. Trump claimed that Canada made several concessions during the negotiations, including lowering retaliatory tariffs on U.S. goods.