Former US President Donald Trump announced on Tuesday that he is likely to reverse his decision to double tariffs on Canadian steel and aluminum imports, just hours after initially imposing the sharp increase.
The move follows an announcement by Ontario Premier Doug Ford, who stated that the province would suspend its planned 25% surcharge on electricity exports to three US states.
Ford described the decision as a result of "productive" discussions with US Commerce Secretary Howard Lutnick.
Ford also revealed on social media that he and Lutnick are scheduled to meet with US Trade Representative Jamieson Greer in Washington on Thursday to discuss the renewal of the North American Free Trade Agreement (NAFTA) ahead of the April 2 deadline for reciprocal tariff measures.
Trump had initially raised tariffs on Canadian steel and aluminum to 50% in response to Ontario’s electricity surcharge on US states.
However, following negotiations, Ontario suspended its decision, prompting Trump to reconsider the tariff hike.
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