The US-Canada trade war takes a major turn. White House Chief Trade Adviser: No longer planning to implement adjustments to steel and aluminum tariffs.

President Trump had originally planned to increase tariffs on Canadian steel and aluminum products to 50% on Wednesday, but this decision was dramatically reversed in less than six hours. White House Chief Trade Advisor Navarro told the media on Tuesday afternoon that Trump no longer plans to implement this tariff adjustment. Trump's initial announcement of imposing tariffs was in retaliation for Ontario's 25% additional tax on electricity exports to the United States. However, just hours after Trump announced this news, Ontario Premier Ford announced the suspension of the electricity tax policy, leading to rapid progress in US-Canada trade negotiations. When asked in the interview, Navarro was asked, "We won't see 50% tariffs tomorrow, right?" He responded, "Correct." He added that US Commerce Secretary Lutnick played a key role in the negotiations, successfully resolving the conflict. This event marks the latest sharp reversal in the US-Canada trade war and highlights the increasingly unpredictable tensions between the two countries. Previously, Ford had firmly stated that he would not back down, and earlier in the day criticized Trump's tariff policy, saying it could lead to an economic recession, "If we fall into recession, the only person to blame is Trump, this will be the 'Trump recession'." He also threatened to further impose tariffs on electricity exports to Michigan, New York, and Minnesota. However, later in the day, Ford had a "productive conversation" with Lutnick, and both agreed to meet in Washington on Thursday to discuss a "new trilateral trade agreement." On Tuesday, Trump had earlier announced on the Truth Social platform that he ordered the US government to increase tariffs on Canadian steel and aluminum imports by an additional 25 percentage points, bringing the total tax rate to 50%, and this policy was scheduled to take effect on Wednesday morning. He reiterated his hope for Canada to become the "51st state" of the United States, a statement that sparked strong dissatisfaction in the Canadian political arena. Trump said he took this measure because Ontario had imposed a 25% tariff on US electricity exports. In his statement, he wrote, "Based on Ontario's 25% tariff on electricity shipped to the US, I have instructed my Commerce Secretary to levy an additional 25% tariff on all steel and aluminum products imported from Canada, bringing the total tax rate to 50%. Canada is one of the countries with the highest tariffs in the world." The market has already been under enormous pressure due to Trump's tariff policy, and investors' concerns about an economic recession are growing. This is not the first time the Trump administration has repeatedly adjusted its tariff policy towards Canada. In early February this year, Trump imposed a wide range of tariffs on Canada and Mexico, which were later postponed by a month. After the tariffs took effect, he partially lifted restrictions on some goods, and then again postponed partial implementation.