U.S. President Donald Trump’s administration has reversed a decision to double tariffs on Canadian steel and aluminium to 50%. The decision was made after Ontario Premier Doug Ford suspended a planned surcharge on electricity exports to the United States. The tariff increase was initially set to go into effect on Wednesday.

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• Trump’s trade adviser, Peter Navarro, confirmed that U.S. tariffs on Canadian steel and aluminium will remain at 25%, not 50%.
• The tariff increase was initially planned for Wednesday but was reversed after Ontario Premier Doug Ford took action.
• Ford announced that Ontario would temporarily suspend a 25% surcharge on electricity exports to northern U.S. states, including Michigan, Minnesota, and New York.
• The U.S. tariffs on Canadian steel and aluminium will still go into effect at 25%, as announced by a White House spokesperson.
• Ontario’s surcharge on electricity exports could have affected 1.5 million homes and businesses across northern U.S. states.
• The electricity surcharge was aimed at Michigan, Minnesota, and New York after U.S. Commerce Secretary Howard Lutnick intervened.
• Trump’s administration claims the decision is a win for the American economy, leveraging the strength of the U.S. economy.
• The White House statement praised Trump for using economic leverage to achieve results in trade negotiations.
• Navarro remarked that Ford had understood the situation and encouraged Canada to reduce rhetoric.
• The rollback of tariffs signals a possible de-escalation in trade tensions between the U.S. and Canada.