US President Donald Trump said Tuesday he would “probably” reconsider doubling planned tariffs on Canadian steel and aluminum, hours after announcing the sharp hike.
Trump’s step up to 50 percent levies initially came after the Canadian province of Ontario imposed an electricity surcharge on three US states who buy it — but Ontario has suspended this decision after talks with Washington.
Asked if the change would influence his decision on Canada tariffs, Trump told reporters: “I’m looking at that, but probably so.”
Trump’s threats came shortly before a midnight deadline for ramping up a globe-spanning trade offensive with 25 percent levies on steel and aluminum imports.
The US dollar fell sharply on Tuesday, particularly against the euro, while markets fluctuated in volatile trading.
Canadian Prime Minister-elect Mark Carney earlier vowed that his incoming administration would hit back with “maximum impact.”
But Ontario has since agreed to halt the 25 percent …