WASHINGTON – President Trump will not double tariffs on Canada’s steel and aluminum imports, Commerce Secretary Howard Luttonick told CBS News.
Ford and Ratnic announced a suspension of electricity surcharges after Trump announced on Truth Social that he would double tariffs on Canadian steel and aluminum imports from a 25% rate to 50%.
When asked by CBS News in an interview Tuesday if the president is due to experience 50% tariffs, Lutnick replied, “No, that’s off too. So, what we were doing is 25% of steel and aluminum.”
The customs whiplash began later Trump’s decision 25% tariff on steel and aluminum imports from Canada and all other countries.
White House spokesman Kush Desai told CBS News in a statement that Trump has set back the threat of a 50% tariff on all steel and aluminum imports, but the 25% tariff will take effect on Wednesday. As announced last month.
“A 25% tariff on steel and aluminum will be enforced in the midnight of March 12th, Canada and all other trading partners without exceptions or exemptions,” Desai said.
“Today, US Secretary of Commerce @howardlutnick and Ontario Premier Doug Ford had a productive conversation about economic relations between the US and Canada,” Ford’s account said in a post on X. Ontario has agreed to suspend 25% additional charges for electricity exports to Michigan, New York and Minnesota. ”
The moment the Ford-Lutnick joint statement was issued, the president told reporters that he could “see” and “make another decision” by setting a backwards 50% tariffs on Canada’s steel and aluminum imports.
On Tuesday morning, Trump said he would double the tax on all steel and aluminum imports, which begin on Wednesday. Quote Ontario’s electricity extra charges as a reason for price hikes.
“Based on Ontario, Canada, I placed a 25% tariff on ‘electricity’ coming to the US, so I directed the Commerce Secretary to add a 25% tariff to 50% on all steel and aluminum coming to the US from Canada, one of the highest tariffs in the world.”
The president also called on Canada to drop tariffs on various US dairy products, saying he would declare a “national electricity emergency” in areas affected by Canada’s electricity surcharges. New York, Minnesota and Michigan, which crossed the Canadian border, were targeting Ontario’s surcharge.
The president also reiterated his desire to allow Canada to become the 51st state of the United States.
“The only thing that makes sense is that Canada will become our 50 most precious states,” Trump wrote. “This will make all the tariffs and everything else will disappear forever. Canadians’ taxes will be cut very dramatically. They will be safer, militarily, otherwise the north border issue will be gone, and the world’s greatest and most powerful nation will be bigger and stronger than ever – and Canada will be a big part of it.”
stock It rolled again On Tuesday, they fear that the US economy could fall into a recession amid uncertainty over the president’s tariff regime.
More about CBS News
Nancy Code
