Trump cancels the increase in tariffs on steel and aluminum from Canada.

The Trump administration has decided not to impose a 25% tariff on steel and aluminum imports from Canada, which would have raised the overall tariff to 50%. Peter Navarro, a trade advisor to Trump, mentioned that reasonable discussions led to this reversal after Ontario backed off from its own retaliatory tariffs on energy exports. Canada is the largest steel and aluminum exporter to the U.S., and the decision comes amid ongoing trade tensions, including tariffs imposed by Canada on U.S. dairy products in response to U.S. duties.