The US-Canada trade tensions took a dramatic turn as President Donald Trump reversed his decision to double tariffs on Canadian steel and aluminum to 50%, just hours after announcing them. Instead, the White House confirmed that a 25% tariff would apply to all steel and aluminum imports, including those from Canada, with no exemptions. The sudden policy shift roiled financial markets, with the S&P 500 plunging to 5,528 points—marking a 10%.