The decision to put 50% tariffs on Canadian steel and aluminum that were just announced this morning has been reversed

Trump Administration Walks Back Plan to Double Tariffs on Canadian Steel and Aluminum

The Trump administration announced it will no longer double the 25% tariff on Canadian steel and aluminum scheduled to take effect Wednesday, following Ontario’s decision to suspend its surcharge on electricity exports to the U.S.

On Tuesday morning, President Donald Trump threatened to raise tariffs on Canadian metals to 50% in response to Ontario’s surcharge on electricity exports, which was introduced Monday. In a Truth Social post, Trump vowed to declare a “National Emergency on Electricity” in the affected areas.

Hours later, Ontario Premier Doug Ford and Commerce Secretary Howard Lutnick spoke by phone, agreeing to drop the electricity surcharge and meet in Washington on Thursday for trade talks.

White House Statement

White House spokesman Kush Desai confirmed the reversal, stating:

“After President Trump threatened to retaliate with a colossal 50% tariff, Premier Doug Ford spoke with Secretary Lutnick and agreed to withdraw Ontario’s 25% electricity surcharge on exports to the U.S.”

Desai reiterated that, as per Trump’s previous executive orders, a 25% tariff on steel and aluminum would still take effect for Canada and all other trading partners at midnight on March 12—with no exceptions or exemptions.

7:54 p.m. EDT – Ford Calls Talks 'Constructive'

Speaking on CNN’s OutFront with Erin Burnett, Doug Ford dismissed suggestions that his decision to drop the surcharge was a sign of weakness, citing market volatility.

“They can call it whatever they want. With the market tumbling by $4 trillion, inflation rising, and consumer confidence sinking, this isn’t about ‘backing down’—it’s about sitting at the table and negotiating a fair deal,” Ford said.

Ford described his conversation with Lutnick as “constructive” and emphasized the urgency of securing a new trade deal to stabilize markets.

When asked whether changes to the U.S.-Canada border could be up for negotiation, Ford rejected the idea outright.

“That’s just not on the table. We will never be a 51st state. We’re proud of our sovereignty and will always remain Canada,” Ford stated.