Washington: US President Donald Trump stated Wednesday that the United States and Canada have reached a trade agreement after a phone conversation with Canadian Prime Minister Mark Carney, although he acknowledged that the deal is pending the finalization of documents.

According to Anadolu Agency, Trump informed reporters outside the White House about the agreement, which aims to eliminate tariffs on US farmers exporting to Canada, describing it as beneficial for both nations. "Our farmers were paying tremendous tariffs into Canada, and those tariffs are going to be totally eviscerated down to zero," Trump emphasized.

When questioned about the possibility of reducing tariffs on Canadian automobiles and luxury goods, Trump mentioned that certain measures are being considered, indicating that US farmers and manufacturers stand to gain from the new arrangement.

Earlier on Tuesday, Trump had postponed a planned 50% tariff on Canadian goods for three days, allowing time for the completion of necessary documents. The tariff was initially set to be implemented on Wednesday. This decision followed a conversation with Carney, who sought to reach an agreement and prevent tariffs on approximately C$30 billion ($22 billion) worth of Canadian goods.

Regarding the potential reduction of tariffs on Canadian steel and aluminum, Trump indicated his administration would evaluate the possibility, stating, "We'll look at it." He also highlighted Canada's decision to cease imposing tariffs on US farmers, who he claimed had been significantly impacted by Canada.

Trump added that the US might align some tariffs on Canadian goods with those imposed on other countries, noting that "Canada was paying a higher tariff." He concluded by expressing optimism about the current relationship with Canadian leadership and mentioned the temporary three-day pause in tariff implementation.