The change will go into effect on Sept. 1, Carney added, saying he believes Canada has the best trade deal out of all of the countries working with the U.S.

In March, Canada imposed a 25 per cent retaliatory tariff on Washington following Trump’s announcement of duties on Canadian steel and aluminium imports. Carney has said that Canadian tariffs on US autos,

Carney said Canada will lift its tariffs on U.S. goods that comply with a North American free trade pact, but keep tariffs on U.S. steel, aluminum and autos.