The White House has confirmed that a 25% tariff on steel and aluminum imported from Canada and other countries will be implemented on March 12. President Donald Trump had previously threatened to raise the tariffs to 50% but ultimately decided against it. There will be no exemptions or waivers for any trading partners. The announcement initially caused market volatility, but a breakthrough occurred when Ontario suspended a planned tariff on electricity exports to the US. Ontario Premier Doug Ford and US Commerce Secretary Howard Lutnick are set to discuss trade relations further. Despite the temporary reprieve, trade tensions between the US and Canada remain high.



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