(Reuters) – U.S. President Donald Trump’s trade adviser Peter Navarro said on Tuesday that an increased tariff of 50% on Canadian steel and aluminum will not take effect on Wednesday.
Earlier in the day, Trump had ordered that an across-the-board tariff of 25% on all steel and aluminum imports that is slated to take effect on Wednesday be doubled on Canada after Ontario Premier Doug Ford said he would impose a surcharge on electricity exports to the United States. Ford later said he was suspending the surcharge after speaking to U.S. Commerce Secretary Howard Lutnick.
When asked by a CNBC reporter if that meant the 50% tariff on Canadian steel and aluminum would not go into effect Wednesday, Navarro said “that’s correct.”
Following the interview, a White House spokesperson said in a statement that the previously planned 25% tariff on steel and aluminum will go into effect for Canada and all other U.S. trading partners at midnight.
(Reporting by Ryan Patrick Jones; Editing by Scott Malone)
Comments