Editor’s Note: The story has been refreshed with the latest market price action and a revised headline. President Donald Trump late Tuesday paused 50% tariffs on about $20 billion of Canadian imports for three days,

Canada and the US are hashing out a last-minute deal to avert new 50% tariffs from taking effect at midnight on Wednesday.

Canadian Prime Minister Mark Carney held talks with US President Donald Trump on Tuesday as Canada sought to avert 50% US tariffs set to take effect at midnight, AFP reported Tuesday. Trump signed orders for the tariffs last month,

Canada’s long-running tariff confrontation with the United States appears to be moving toward a breakthrough, and Prime Minister Mark Carney

Canada’s prime minister laughed off Trump’s description of Canada but suggested that trade talks between the two countries are acrimonious.

Being seen as an effective crisis manager is central to Mark Carney’s political brand, but an emphasis on communication and symbolism in support of the brand can only go so far. Results matter.

Mark Carney is the prime minister of Canada and the leader of the Liberal Party. Prior to his career in elective politics, Carney served as the governor of the Bank of England and the governor of the Bank of Canada.

Prime Minister Mark Carney will speak to his American counterpart on Tuesday by phone to try and hammer out a deal to avoid new U.S. tariffs on some $30 billion in Canadian goods due to take effect just after midnight,