U.S. President Donald Trump has backed down from a threat to double tariffs on Canadian steel and aluminum, bringing the levy back down from 50% to the original 25%, after Canada's Ontario province suspended its own 25% duty on electricity exports to the U.S.
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00:00U.S. President Donald Trump is walking back a threat to double tariffs on Canadian metals
00:05just hours after announcing the plan.
00:08Canada's province of Ontario had planned to levy a 25 percent duty on electricity exports
00:14to the U.S. but reversed course after Trump announced plans to tariff Canadian steel and
00:19aluminum at 50 percent.
00:22Washington's original 25 percent levy on the metals is still going into effect.
00:27The U.S. and Canada have been locked in a trade dispute with both sides threatening
00:31to retaliate in response to Trump's aggressive economic policy.