US-Canada Trade Talks Break Through, Reports: US to Halve Steel and Aluminum Tariffs to 25%, Cut Auto Tariffs to 15%

According to media reports, the US and Canada have preliminarily reached a trade agreement framework, which will reduce tariffs on specific Canadian steel and aluminum exports to the US from the current 50% to 25%, and lower tariffs on Canadian auto exports from 25% to 15%. The news sent Canadian steel companies surging, while US steel firms tumbled. Details of the agreement have yet to be finalized, with US manufacturing groups applying pressure, and Trump's well-known unpredictability leaving uncertainty ahead of Friday's deadline.