"We don't link together the tariffs and the negotiations for NAFTA but we're happy to continue to move forward on the negotiations," Trudeau told CNBC.
The Canadian prime minister also said during the interview that US exemptions to tariffs were not a "magical favor being done."
In a statement earlier in the day, Trudeau said he would seek advice from the country’s steel and aluminum workers on ways to address overcapacity in the North American and global markets.
Trump last week rolled out tariffs on steel and aluminum but said Canada and Mexico will be excluded and long-term exemptions would be based on the results of NAFTA negotiations.
The US president said he will have the right to raise or lower tariffs on certain countries, or add or drop countries from being exempted from tariffs.
Trump said Mexico and Canada will likely be exempt from the new tariffs if the attempts to renegotiate the North American Free Trade Agreement (NAFTA) are successful.