OTTAWA - Canadian Finance Minister Dominic LeBlanc announced on Thursday that Canada will halt the second wave of tariffs on US goods until April 2.

"The United States has agreed to suspend tariffs on CUSMA (Canada-US-Mexico Agreement)-compliant exports from Canada until April 2nd," LeBlanc said in his social media account shortly after US President Donald Trump announced the tariff delay.

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"As a result, Canada will not proceed with the second wave of tariffs on 125 billion Canadian dollars of US products until April 2, while we continue to work for the removal of all tariffs."

Industry Minister Francois-Philippe Champagne said Canada's retaliatory measures remain, even after Trump's latest move to delay tariffs on some Canadian and Mexican goods until April 2.

According to local media, more than half of Canadian imports aren't covered and would likely still face the new tariffs because they're not USMCA compliant.

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"As long as the threat remains, the pressure stays on," Champagne was quoted as saying in CTV News. "The Prime Minister has been clear on that. The only way you make that work is to keep the pressure."

On Thursday, Trump signed an executive order to delay tariffs on goods covered under the CUSMA.