All three major stock indices closed up on Friday after Canada announced it would end its retaliatory tariffs on the United States, signaling a thawing in the ongoing trade war between Washington and the Great White North.

The Dow Jones Industrial Age closed up 1.89%, while the Nasdaq Composite closed up 1.88%, and the S&P 500 closed up 1.52%.

Canadian Prime Minister Mark Carney on Friday announced that Ottawa would end its import duties on key American goods and instead focus on dealing with the U.S. to conclude a trade agreement.

“As we work intensively with the United States, our focus is squarely on the strategic sectors,” he said. The announcement follows President Donald Trump securing trade deals with the EU, UK, and a number of Pacific Rim nations.

Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.