U.S. rolls back additional 25% tariffs on Canadian steel, aluminum
On Tuesday, the United States announced a reversal of its intention to implement an additional 25 percent tariff on Canadian steel and aluminum. This decision followed the action taken by the Canadian province of Ontario to eliminate tariffs on electricity exports to three U.S. states.
TroibNews 
The United States announced on Tuesday that it would not move forward with an additional 25 percent tariff on Canadian steel and aluminum after the province of Ontario lifted its tariffs on electricity exports to three U.S. states.
"After President Trump threatened to use his executive powers to retaliate with a colossal 50 percent tariff against Canada, Ontario Premier Doug Ford spoke with Secretary Lutnick to convey that he is backing down on implementing a 25 percent charge on electricity exports to the United States," said White House spokesman Kush Desai in a statement.
Earlier in the day, President Donald Trump utilized social media to inform that he intended to impose a 25 percent tariff on Canadian steel and aluminum, increasing the total tariff to 50 percent in response to Ontario's electricity export tariffs.
Shortly thereafter, Ontario opted to suspend its 25 percent surcharge on electricity exports to Michigan, Minnesota, and New York.
In a joint statement, Ontario Premier Doug Ford and U.S. Secretary of Commerce Howard Lutnick revealed that Ford plans to visit Washington on Thursday to meet with Lutnick to discuss "a renewed USMCA ahead of the April 2 reciprocal tariff deadline."
Previously, Trump had announced a broad 25 percent tariff on imports from Canada and Mexico, which was implemented on March 4. However, just two days later, he modified the measures, exempting goods that met the "United States-Mexico-Canada Agreement" preferential conditions from these tariffs, a change effective until April 2.
According to NBC News, a senior U.S. government official indicated that approximately 38 percent of imports from Canada to the United States qualify for this exemption.
On March 4, the Canadian government declared it would impose a 25 percent tariff on U.S. goods totaling 155 billion Canadian dollars in phases, with the first round affecting goods worth 30 billion Canadian dollars already in place.
In response to the broad tariffs on Canadian products, Ontario's government officially implemented a 25 percent surcharge on all electricity exports to Michigan, Minnesota, and New York on Monday.
Desai also noted in the statement that under Trump's previous executive orders, a 25 percent tariff on steel and aluminum "with no exceptions or exemptions" will take effect for all trading partners at midnight on March 12.
On February 10, Trump signed proclamations to increase tariffs on aluminum from 10 percent to 25 percent, equalizing them with the current rate for steel, and decided to remove duty-free quotas, exemptions, and exclusions for both steel and aluminum tariffs.
Lucas Dupont for TROIB News
"After President Trump threatened to use his executive powers to retaliate with a colossal 50 percent tariff against Canada, Ontario Premier Doug Ford spoke with Secretary Lutnick to convey that he is backing down on implementing a 25 percent charge on electricity exports to the United States," said White House spokesman Kush Desai in a statement.
Earlier in the day, President Donald Trump utilized social media to inform that he intended to impose a 25 percent tariff on Canadian steel and aluminum, increasing the total tariff to 50 percent in response to Ontario's electricity export tariffs.
Shortly thereafter, Ontario opted to suspend its 25 percent surcharge on electricity exports to Michigan, Minnesota, and New York.
In a joint statement, Ontario Premier Doug Ford and U.S. Secretary of Commerce Howard Lutnick revealed that Ford plans to visit Washington on Thursday to meet with Lutnick to discuss "a renewed USMCA ahead of the April 2 reciprocal tariff deadline."
Previously, Trump had announced a broad 25 percent tariff on imports from Canada and Mexico, which was implemented on March 4. However, just two days later, he modified the measures, exempting goods that met the "United States-Mexico-Canada Agreement" preferential conditions from these tariffs, a change effective until April 2.
According to NBC News, a senior U.S. government official indicated that approximately 38 percent of imports from Canada to the United States qualify for this exemption.
On March 4, the Canadian government declared it would impose a 25 percent tariff on U.S. goods totaling 155 billion Canadian dollars in phases, with the first round affecting goods worth 30 billion Canadian dollars already in place.
In response to the broad tariffs on Canadian products, Ontario's government officially implemented a 25 percent surcharge on all electricity exports to Michigan, Minnesota, and New York on Monday.
Desai also noted in the statement that under Trump's previous executive orders, a 25 percent tariff on steel and aluminum "with no exceptions or exemptions" will take effect for all trading partners at midnight on March 12.
On February 10, Trump signed proclamations to increase tariffs on aluminum from 10 percent to 25 percent, equalizing them with the current rate for steel, and decided to remove duty-free quotas, exemptions, and exclusions for both steel and aluminum tariffs.
Lucas Dupont for TROIB News
