Trump Reverses Plan to Raise Canadian Steel, Aluminum Tariffs After Ontario Premier's Retaliatory Moves

President Donald Trump has reversed his decision to raise tariffs on Canadian steel and aluminum to 50%, according to CNBC.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump has reversed his decision to raise tariffs on Canadian steel and aluminum

00:06to 50 percent, according to CNBC.

00:08Ontario Premier Doug Ford paused a 25 percent surcharge on electricity exports to the U.S.

00:13after an agreement with U.S. Commerce Secretary Howard Lutnick following Tuesday's discussions.

00:18Trump had announced a tariff hike earlier in response to Ontario's move,

00:22escalating trade tensions.

00:24Dow Jones fell over 500 points, while the Nasdaq and S&P 500 also slipped.

00:28For all things money, visit Benzinga.com slash GSTV.