FAMAGUSTA GAZETTE – The US government has decided to temporarily drop its plan to double tariffs on Canadian steel and aluminum to a total of 50 percent.
This decision was confirmed by President Donald Trump’s trade advisor, Peter Navarro, late Tuesday evening.
Earlier in the day, Trump had ordered that the general tariff of 25 percent on all steel and aluminum imports, which is scheduled to take effect on Wednesday, be doubled to 50 percent specifically for Canada.
The move was in response to a statement from Ontario Premier Doug Ford, who threatened to introduce a fee on electricity exports to the United States.
However, the conflict did not escalate further when Ford later announced that he would suspend the fee after a conversation with US Secretary of Commerce, Howard Lutnick.
A White House spokesman confirmed in a statement, according to Reuters, that the previously planned 25 percent tariff on steel and aluminum will take effect for Canada and all other US trading partners at midnight.
Last month, former Canadian Prime Minister Justin Trudeau met with European Council President Antonio Costa and European Commission President Ursula von der Leyen in Brussels to reaffirm strong trade and economic ties between Canada and the European Union (EU).
The meeting followed Trump’s decision to impose a 25-percent tariff on steel and aluminum imports upon entering the United States.
Discussions focused on enhancing trade, investment, and economic cooperation.