Trump adviser says 50% tariffs on Canadian steel and aluminum won't take effect Wednesday

US President Donald Trump's trade adviser Peter Navarro said on Tuesday that an increased tariff of 50 per centon Canadian steel and aluminum will not take effect on Wednesday.

Earlier in the day, Trump had ordered that an across-the-board tariff of 25 per cent on all steel and aluminum imports that is slated to take effect on Wednesday be doubled on Canada after Ontario Premier Doug Ford said he would impose a surcharge on electricity exports to the United States. Ford later said he was suspending the surcharge after speaking to US Commerce Secretary Howard Lutnick.

When asked by a CNBC reporter if that meant the 50% tariff on Canadian steel and aluminum would not go into effect Wednesday, Navarro said "that's correct."

Following the interview, a White House spokesperson said in a statement that the previously planned 25 per cent tariff on steel and aluminum will go into effect for Canada and all other US trading partners at midnight.