Dominic LeBlanc has no time for “51st state” jokes. He’s too busy trying to keep the U.S. from slapping tariffs on its neighbor to the north.

The federal government confirmed on Friday it's reversing course on increases to the capital gains tax that were announced in the last federal budget after initial reporting from CBC News on Thursday.

Finance Minister Dominic LeBlanc sent a video describing Canada's border security efforts to the man U.S. President Donald Trump has chosen to oversee his tariff agenda — part of Canada's pitch to avoid devastating duties that could come as soon as Saturday.

To ensure most middle-class Canadians do not pay more tax once the capital gains inclusion rate is increased, the government will maintain or enhance existing capital gains exemptions while creating a new investment incentive.

Finance Minister Dominic LeBlanc sent a video of Canada’s border security efforts to the man U.S. President Donald Trump has chosen to oversee his tariff agenda — part of Canada’s pitch to avoid devastating duties that could come as soon as Saturday.

In a post on X, federal finance minister Dominic LeBlanc confirmed the proposed increase to the capital gains inclusion rate will be shelved, at least for now.

The Canadian Minister of Finance Dominic LeBlanc announced on Friday that the federal government is deferring the date to implement capital gains tax increase to the next year.

Ottawa defers effective date of capital gains changes to 2026 and promises exemptions for the tax inclusion increase..

The statement from the Department of Finance continued to defend the unresolved tax changes, reiterating that the policy would increase the lifetime capital gains exemption to $1.25 million, while the new Canadian entrepreneurs’ incentive would reduce the inclusion rate to one-third on a lifetime maximum of $2 million in eligible capital gains.

Canada’s outgoing prime minister and the leader of the country’s oil rich province of Alberta are confident Canada can avoid the 25% tariffs President Donald Trump says he will impose on Canada and Mexico on Feb.

Canadian leaders expressed relief that broad tariffs were not applied to Canadian products on the first day of Donald Trump’s presidency.

WASHINGTON — Finance Minister Dominic LeBlanc sent a video of Canada's border security efforts to the man U.S. President Donald Trump has chosen to oversee his tariff agenda — part of Canada's pitch to avoid devastating duties that could come as soon as Saturday.