LATE-DAY ANNOUNCEMENT: ADDITIONAL 50% TARIFF ON STEEL AND ALUMINUM CANADIAN PRODUCTS ON HOLD
President Donald J. Trump told reporters at the White House that he ‘probably’ would not proceed with increasing tariffs on Canadian steel and aluminum to 50%, following the Ontario premier’s decision to roll back a surcharge on electricity exports to the U.S.
Earlier in the day, the president announced via social media that the United States will impose an additional 25% tariff on steel and aluminum imports from Canada, bringing the total duty to 50%.
If enacted, these new tariffs would be in addition to the Section 232 Expanded Tariffs on Steel and Aluminum already scheduled to take effect on March 12, 2025. The Section 232 tariffs impact steel and aluminum products and derivatives imported from multiple global trade partners.
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