President Trump announced late Tuesday night he is pausing a scheduled 50% tariff on Canadian goods just hours before it was set to take effect at midnight, following eleventh-hour talks between US officials and Canadian Prime Minister Mark Carney’s team. Trump posted that the three-day pause reflects an agreement in principle between the two countries, subject to finalizing formal documents. Notably, US equity futures were essentially unchanged on the news, a muted reaction that tells its own story about how markets are actually reading this development.