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A senior economic adviser to United States President Donald Trump says a plan to double tariffs on Canadian steel and aluminium imports to 50 percent has been halted, as the trade war between the two countries continues to sow confusion and uncertainty, Al Jazeera reported.

In an interview with CNBC on Tuesday afternoon, Peter Navarro said the increased US tariffs would not come into effect as planned on Wednesday.

The announcement came just hours after the premier of the Canadian province of Ontario, Doug Ford, said he was temporarily suspending a surcharge on electricity exports to some US states.

That surcharge is what Trump earlier said had prompted his decision to impose the 50 percent tariffs on Canadian steel and aluminium – up from the 25 percent levies still set to come into effect on Wednesday.

“Just tamp it down, please, over there,” Navarro said in his CNBC interview, addressing Canada.

The back-and-forth highlights the unpredictable nature of Trump’s “America First” economic policy, and the lack of clarity around his announcements on tariffs.

US-Canada relations have plummeted amid Trump’s push to impose steep tariffs on a range of Canadian goods and his repeated threats to annex the country.

Some US tariffs against Canada came into effect last week as part of what the US president has said is an effort to balance the countries’ trade relationship. But the Canadian government has rejected the measures as “unjustified” and unveiled retaliatory levies, according to Al Jazeera.

The tariffs have spurred anger and frustration in Canada over the past several weeks.

Many Canadians are boycotting US products and calling on the government to reduce the country’s economic dependence on the US.

Ford, the Ontario premier, announced on Monday that his government would impose a 25 percent surcharge on electricity exports to the US states of Michigan, Minnesota and New York.

Ford – who has taken a strong line against Trump’s policies – told reporters that Ontario’s electricity powers 1.5 million US homes and businesses in those US states.

The surcharge, the premier said, would cost families and businesses as much as $276,000 (400,000 Canadian dollars) per day.

“Let me be clear, I will not hesitate to increase this charge. If necessary, if the United States escalates, I will not hesitate to shut the electricity off completely,” Ford had said.

On Tuesday, Mark Carney, the new leader of Canada’s governing Liberal Party and the country’s next prime minister, also slammed Trump’s plan to increase tariffs on steel and aluminium as “an attack on Canadian workers, families, and businesses”.

“My government will ensure our response has maximum impact in the US and minimal impact here in Canada, while supporting the workers impacted,” Carney, who is set to be sworn in as prime minister in the coming days, wrote on social media.

“My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade.”

The US stock market plunged this week amid the uncertainty around Trump’s economic and trade policies, Al Jazeera reported.

Canada and the US are major trading partners, with the US importing $412.7bn from its northern neighbour in 2024, according to the Office of the US Trade Representative. US exports to Canada that same year totalled $349.4bn.

The District Administration Office of all the three districts (Kathmandu, Lalitpur and Bhaktapur) of the Kathmandu Valley have urged everyone to celebrate Holi festival in a dignified and civilized manner.

Assistant Chief District Officer of Kathmandu, Anil Poudel, urged all to celebrate the festival in a peaceful and decent way.

Issuing a notice, he said, "The Social Behaviour (Reform) Act and Regulations, 2033 BS have systematized and regulated the celebration of religious, social and cultural festivals. Therefore, on this occasion of the festival of colours, everyone is urged not to indulge in ruckus and quarrels in public places affecting the peace and security, consuming alcohol, disturbing the family and social life and public dignity and peace.

Everyone is requested not to indulge in such rowdy acts as throwing colours and water-filled balloons, sprinkling water from pipes, smearing colours without the consent of others or to run in a very excited manner while playing Holi, as doing so might invite accidents and even lead to death."

The Holi festival is being celebrated in the Hilly region on March 13 and in the Tarai region on March 14.

Canada’s next prime minister met with outgoing prime minister Justin Trudeau on Monday and vowed a quick transition, Associated Press reported.

Mark Carney said he had a long meeting with Trudeau in which they discussed U.S.-Canada relations, national security issues and the timing of the handover in power.

“That transition will be seamless and it will be quick,” said Carney, adding there would be an announcement soon.

Carney, a two-time central bank chief, will become prime minister after the governing Liberal Party elected him its leader Sunday in a landslide vote with 85.9% support.

Carney, 59, replaces Trudeau who announced his resignation in January but remains prime minister until his successor is sworn in.

Carney is widely expected to trigger a parliamentary election in the coming days or weeks amid U.S. President Donald Trump’s sweeping tariff and annexation threats. Or the opposition parties in Parliament could force one with a no-confidence vote later this month, according to the Associated Press.

Carney is a former Goldman Sachs executive with no experience in politics.

He navigated crises when he was the head of the Bank of Canada from 2008, and then in 2013 when he became the first non-citizen to run the Bank of England since it was founded in 1694. His appointment won bipartisan praise in the U.K. after Canada recovered from the 2008 financial crisis faster than many other countries. He helped managed the worst impacts of Brexit in the U.K.

The opposition Conservatives had hoped to make the election about Trudeau, whose popularity declined as food and housing prices rose and immigration surged.

But Trump’s trade war and his talk of making Canada the 51st U.S. state have have infuriated Canadians, who are booing the American anthem at NHL and NBA games. Some are canceling trips south of the border, and many are avoiding buying American goods when they can.

The surge in Canadian nationalism has bolstered the Liberal Party’s chances in a parliamentary election, and Liberal showings have been improving in opinion polls.

“There is tremendous energy in the Liberal caucus,” Carney said. “This is a united party full of energy.”

Trump has postponed 25% tariffs on many goods from Canada and Mexico for a month, amid widespread fears of a broader trade war. But he has threatened other tariffs on steel, aluminum, dairy and other products.

Carney said Sunday night that Canada will keep its initial retaliatory tariffs in place until “the Americans show us respect.” He said Canada didn’t start the fight but would win, Associated Press reported.

Billionaire Michael Bloomberg, a former New York City mayor, called the U.S.-Canada relationship vital and said there’s no one more prepared to strengthen it than Carney.

“Mark is one of the smartest, most capable, and steady-handed leaders I know,” Bloomberg posted on X.

Prime Minister KP Sharma Oli is scheduled to present the 'Bill to amend certain Nepal Acts relating to the Promotion of Good Governance and Delivery of Public Services, 2081' in a meeting of the House of Representatives today.

According to the tentative agenda published by the Parliament Secretariat, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel is scheduled to present the 'Bill to amend certain Nepal Acts relating to Improving the Economic and Business Environment and Promoting Investment, 2081', the 'Economic Procedure and Fiscal Responsibility (First Amendment) Bill, 2081' and 'Privatization (First Amendment) Bill, 2081'.

Similarly, Minister for Land Management, Cooperatives and Poverty Alleviation Balaram Adhikari will present the 'Bill to Amend Some Nepal Acts relating to the Cooperatives, 2081 BS'.

Home Minister Ramesh Lekhak will propose to send the 'Armed Police Force, Nepal Bill, 2081 BS' to the concerned committee for clause-wise discussion.

Police have arrested five persons in possession of counterfeit currency from Gorakhkali, Malangawa Municipality-8, Sarlahi.

The arrestees have been identified as Sultan Mansur aka Khursed (42) of Sundarpur, Sonama Rural Municipality-7, Mahottari, Ram Narayan Sahani (56) of Chilmiliya, Gadhimai Municipalilty-9, Rautahat, Dular Sahani (48) of Bairiya, Dhankaul Rural Municipality-7, Sarlahi, Ramprit Sahani (50) of Bhramapuri Rural Municipality-2, Sarlahi and Sihanata Kumari Devi (35) of Bhramapuri Rural Municipality-2, the District Police Office, Sarlahi informed.

Acting on a tip-off, they were apprehended while they were entering Nepal from India on three motorbikes (Ba 47 Pa 8757, BR 30 C 4766 and BR 30 I 3049) during a security check, DSP Saroj Rai said.

Police nabbed them with 176 fake bank notes in denominations of 1, 000.

DSP Rai said that they are looking into the case.

President Ram Chandra Paudel has stressed on the need of strengthening federalism, good governance and the rule of law. 

For this, the President said, the Parliament should play an effective role to make the government responsible and accountable to the people.

"It is your responsibility to make the role of Parliament more effective to make the government responsible and accountable to the people to strengthen federalism, good governance and rule of law," the Head of State said at a program organized at the Office of the President today for handing over the Pokhara Declaration of the Inter-Parliamentary Forum.

President Paudel suggested to the government and the Parliament to develop the Parliament as a place where the voice of the sovereign people can be voiced in the context of complaints being made public that some important constructions have been delayed and there is not enough discussion in Parliament on issues of public concern.

"I expect additional readiness from you to build an efficient, accountable and people-responsive Parliament in the days to come, embracing the opportunity to learn from parliamentary practices," he said.

According to the President's Private Secretariat, the President on the occasion stated that Parliament should position itself as a place for effective law making, budget formulation, policy formulation and raising the voice of the people.

The President was of the view that the federal parliament should create an inclusive, long-term and development-friendly legal framework.

"Law-making and transparency are beautiful aspects of the democratic system. Therefore, your cooperation is essential for the successful implementation of federalism by further strengthening the role of parliament," he reiterated.

A new hot water pond has been constructed and brought into operation at Singa Tatopani Kunda located at Beni Municipality-4 in Myagdi

Tatopani Kunda Management Committee built the new pond on public land nearby upper Tatopani bazaar.

Committee Secretary Amar Bahadur KC said the new pond was constructed following the increasing number of people visiting the place to take bath in the hot water pond.

"The hot water was brought to the new pond by pumping it from the source located at the bank of Myagdi river," he added. 

"We managed all the expenses to construct the new pond from the entry fee charged for those visiting the place to take bath. Eighty people can take bath in the 15-feet long, 15-feet wide and 2.5 feet deep pond at a time," shared KC.

Chairperson of the Committee, Krishna Khadka, mentioned that there is a belief that different types of health issues related to skin, gastric, rheumatoid arthritis etc would be cured after taking bath in the hot water pond.

A total of 44,000 people including 59 districts of Nepal, India, Russia, France and Japan took bath in the pond in fiscal year 2080/81.

One can take a bath in the hot water pond till seven-10 days after paying Rs 350 while Rs 100 per person has been determined for one time bath.  There are now two separate ponds for patients and other visitors.

The Nepal Stock Exchange (NEPSE) plunged by 32. 21 points to close at 2,719. 20 points on Tuesday.

Similarly, the sensitive index dropped by 3. 28 points to close at 456. 47 points.

A total of 15,559,683-unit shares of 303 companies were traded for Rs 8. 39 billion.

Meanwhile, Mahalaxmi Bikas Bank Ltd. (MLBL) was the top gainer today with its price surging by 9. 98 percent. Likewise, NESDO Sambridha Laghubitta Bittiya Sanstha Limited (NESDO) was the top loser as its price fell by 6. 69 percent.

At the end of the day, the total market capitalization stood at Rs 4. 51 trillion.