Canada will announce Friday that it is removing many retaliatory tariffs on U.S. goods, a source familiar with the matter said.

Canadian tariffs on U.S. autos, steel and aluminum will remain for now, said the source, who requested anonymity given the sensitivity of the situation.

Bloomberg News was the first to report the move earlier today.

Prime Minister Mark Carney is scheduled to hold a news conference at noon ET on Parliament Hill.

Carney first hinted earlier this month that he may drop some of the counter-tariffs on some goods if it would help Canadian industries weather the trade war with the U.S.

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