After Canada announced retaliatory tariffs on specific American goods, the Trump administration walked back its intent to apply tariffs on Canadian aluminum, Bill Kelly says.

In Austin, Trump described the trade agreement with China as “groundbreaking” and said, “We’re going to sell the greatest product you’ve ever seen.”

The measure goes to Trump for his signature.

The U.S. is dropping plans to impose tariffs Sunday on $160 billion in Chinese imports and is reducing some existing tariffs on Chinese goods.

More than anything, though, USMCA would just restore certainty to US$1.4 billion worth of annual trade between the three countries more than two years after Trump began contentious negotiations on a new regional trade pact.

In a tweet posted just after 6 a.m., Trump said the countries have been "presiding over a massive devaluation of their currencies" which he says is bad for American farmers.

The U.S. president made the comments outside the White House, telling reporters that his life would be easier had he not mounted a trade war with China.

Canada's trade minister is endorsing a European Union plan to prevent the Trump administration from paralyzing the World Trade Organization's dispute-settlement body later this year.

The renegotiated NAFTA deal isn't ratified yet, and Bill Kelly doubts it ever will be.

Donald Trump introduced steel tariffs because he embraces conflict. Don't expect that change, Bill Kelly says.