President Donald Trump has announced a three-day pause on new 50% tariffs targeting Canadian goods, saying the United States and Canada have reached a preliminary agreement that is awaiting final documentation.

The tariffs, covering dozens of Canadian products ranging from hockey sticks to wine, had been scheduled to take effect at 12:01 a.m. ET on Wednesday.

“I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL,” Trump said in a social media post.

The president did not provide details about the terms of the agreement or explain what concessions had been reached between Washington and Ottawa.

However, Trump suggested the deal could include renewed efforts to revive the Keystone XL pipeline, the controversial cross-border oil project that was canceled in 2021 after years of environmental and political opposition.

“Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!” Trump wrote.

The proposed 50% duties were expected to affect only a portion of U.S. imports from Canada because several major categories of goods would have been exempt.

The three-day suspension provides both governments additional time to finalize the agreement and potentially avert another escalation in trade tensions between the two neighboring countries.