The Globe and Mail reports in its Wednesday edition that U.S. tariffs of 25 per cent on Canadian steel and aluminum were set to go into effect early this morning after a chaotic day in which President Donald Trump had threatened to double them to 50 per cent.
The Globe's Tim Kiladze and Jeff Gray write that Mr. Trump reverted to the original figure after Ontario Premier Doug Ford suspended a 25-per-cent surcharge on electricity exports to three U.S. states in a temporary compromise brokered with U.S. Commerce Secretary Howard Lutnick.
On Monday, Ontario announced the surcharge, to be paid by residents of Michigan, Minnesota and New York. Early Tuesday, Mr. Trump took to social media to accuse Canada of "stooping so low as to use electricity" as a retaliatory measure. He had previously promised to impose 25-per-cent tariffs on steel and aluminum from all countries, starting Wednesday. To fight back against Mr. Ford, he announced plans to double them for Canada.
Mr. Ford and Mr. Lutnick then released a joint statement saying Ontario would pause its surcharge, and the two men agreed to meet in Washington on Thursday to discuss a renewed U.S.-Mexico-Canada agreement ahead of the April 2 reciprocal tariff deadline.
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