Trump Eyes Tariff Reduction Following Ontario's Electricity Surcharge Suspension

U.S. President Donald Trump announced plans to potentially reduce tariffs on Canada after Ontario paused its electricity surcharge exports. Speaking at the White House, Trump emphasized that his tariff policies were crucial for rejuvenating American jobs and opening factories, while downplaying market volatility concerns.

U.S. President Donald Trump announced on Tuesday that he is considering reducing the recently increased tariffs on Canada, following Ontario's decision to suspend a surcharge on electricity exports to the United States. The announcement was made during a briefing at the White House, where Trump discussed his tariff strategy.

Speaking to reporters, Trump defended his decision to hike tariffs on U.S. imports, asserting that these measures were necessary to bring back American jobs and reopen factories across the nation. He acknowledged the inevitable market fluctuations that accompany such policy changes but dismissed concerns that these would lead to prolonged negative impacts.

The President's comments come amid ongoing discussions about trade and economic strategies, with a focus on bolstering domestic employment and industry growth. Trump's remarks suggest a potential easing of trade tensions between the U.S. and Canada, depending on future developments and negotiations.

(With inputs from agencies.)