Kathmandu. US President Donald Trump has temporarily halted plans to impose a 50 percent tariff on Canadian steel, aluminum and other metals. However, the 25 percent tariff on these metals imported from Canada, which will take effect today, March 12, will remain in place.
The main reason for Trump’s withdrawal from the decision to impose a 50 percent tariff is that the Canadian province of Ontario has blocked a new 25 percent tariff on electricity sent to some states in North America. Trump had threatened to impose a large tariff on Canada in response to this tariff on electricity supplies.
The ongoing trade war between the two countries is fatal to the economies of both the US and Canada. Canada is set to be the largest steel importer from the US in 2024. –Agency
