President Donald Trump said late Tuesday that he is pausing 50% tariffs on Canadian goods scheduled to take effect Wednesday, saying the two countries have reached a deal pending final documentation.

“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 wrote on Truth Social.

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

Trump’s announcement came just hours before the tariffs were scheduled to take effect for a three-day period under the Tariff Act of 1930.

The duties would have covered roughly $20 billion in Canadian imports, including liquor, dairy products, vehicles, hockey equipment and other goods. Certain food products, wearables, synthetic materials and industrial goods were also expected to be affected.

Trump spoke with Canadian Prime Minister Mark Carney on Monday night and reportedly spoke with him again Tuesday afternoon, according to FOX Business correspondent Edward Lawrence.

This is a developing story. Check back for updates.

FOX Business’ Bonny Chu contributed to this report.