Trump's advisor says that the increase in Canadian steel prices, aluminum stopped | Donald Trump News

A superior economic adviser from the United States President Donald Trump said that a plan to double the 50% Canadian Steel and Aluminum import prices has been interrupted because the trade war between the two countries continues to sow confusion and uncertainty.

In an interview with CNBC on Tuesday afternoon, Peter Navarro said that the increase in American prices would not come into force as planned on Wednesday.

The announcement only occurred a few hours after the Prime Minister of the Canadian province of Ontario Doug Ford said that he temporarily suspended an additional electricity exports to certain American states.

This supplement is what Trump said earlier that his decision prompted his decision to impose the 50% tariffs on Canadian steel and aluminum compared to 25% Levisstill that will come into force on Wednesday.

Just do it, please, there, said Navarro in its CNBC interview, addressing Canada.

The back and forth highlights the unpredictable nature of Trumps America's economic policy, and the lack of clarity around its announcements on the prices.

American-Canadian relations have dropped in the middle of Trumps' push to impose steep prices on a range of Canadian goods and its repeated threats to annex the country.

Certain American rates against Canada have entered into force last week as part of what the American president said it was an effort to balance the trade relations of the countries. But the Canadian government has rejected measures as unjustified and unveiled reprisals.

The prices have stimulated anger and frustration in Canada in recent weeks.

Many Canadians boycott American products and call on the government to reduce the country's economic dependence on the United States.

Ford, the Prime Minister of Ontario, announced on Monday that his government would impose an additional 25% supplement to electricity exports to the American states of Michigan, Minnesota and New York.

Ford who has taken a strong line against Trumps policies told journalists who have been able to feed 1.5 million American houses and businesses in these American states.

The supplement, the Prime Minister said, would cost families and businesses up to $ 276,000 ($ 400,000 Canadian dollars) per day.

Let me be clear, I will not hesitate to increase this load. If necessary, if the United States degenerates, I will not hesitate to stop electricity completely, said Ford.

On Tuesday, Mark Carney, the new Canada leader, governing the Liberal Party and the next Prime Minister, also criticized Trumps, plans to increase steel and aluminum prices as an attack on Canadian workers, families and businesses.

My government will guarantee that our response has a maximum impact in the United States and a minimum impact here in Canada, while supporting affected workers, Carney, which should be sworn as Prime Minister in the coming days, wrote on social networks.

My government will keep our prices until the Americans show us respect and will make credible and reliable commitments to free and fair trade.

The president wins over the last rates are an attack on Canadian workers, families and businesses. My government will guarantee that our response has a maximum impact in the United States and a minimum impact here in Canada, while supporting affected workers.

My government will keep our prices

Mark Carney (@markjcarney) March 11, 2025

The American stock market has plunged this week in the midst of uncertainty around economic and commercial policies.

Canada and the United States are main business partners, the United States, significantly $ 412.7 billion in its northern neighbor in 2024, according to the office of the American commercial representative. US exports to Canada the same year have totaled $ 349.4 billion.

Canada is at the top of the list of foreign suppliers both in steel and aluminum in the United States, with imports of $ 19.5 billion last year, according to data from S&P Global.

While steel represents an important part of total American imports, the country depends much more on Canadian aluminum [sic] To meet domestic demand, the Canadian Chamber of Commerce has declared in a recent information sheet.

He said American steel and aluminum prices could cause job losses in Canada, while reprisal measures by the Canadian government could increase consumer prices.

Despite the concerns that a prolonged trade war with Canada could increase the prices of Americans and harm the American economy, the Trump administration defended its pricing policy as necessary to close a trade deficit between the two countries.

In his social post of truth on Tuesday morning, Trump warned Canada that if she did not lower her prices on American products, her administration would increase the reciprocal samples scheduled to take effect in early April.

This will mainly be permanently closing the car manufacturing company in Canada, Trump said.

These cars can easily be made in the United States! In addition, Canada pays very little for national security, based on the United States for military protection. We subsidize Canada up to more than $ 200 billion a year. FOR WHAT??? This cannot continue.

Larry Summers, a veteran economist and former American secretary of the Treasury, criticized the increased prices while prevailing on the worst trade policy.

Increase in keys for American manufacturing industries that employ 10 million people what an American opponent would do, Summers wrote on X.

It is a self-inflicted injury to the American economy that we cannot afford, at a time when the risks of recession increase.

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