President cites Ontario’s recent imposition of 25% surcharge on electricity exports to US as reason for doubling dutiesUS politics – live updatesDonald Trump has announced he is doubling tariffs on Canadian steel and aluminum from 25% to 50% as a retaliation for the province of Ontario’s imposition of a 25% surcharge on electricity exports to several US states, in a dramatic escalation of the trade war between the two ostensibly allied countries.“Based on Ontario, Canada, placing a 25% Tariff on ‘Electricity’ coming into the United States, I have instructed my Secretary of Commerce to ad [sic] an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD,” Trump wrote on Truth Social. Continue reading...
Trump's tariffs on steel and aluminum imports took effect, increasing costs for various industries and consumer prices. The EU responded with counter tariffs, while Australia expressed disappointment. Trump threatened further tariffs on Canadian goods and the auto industry and made aggressive statements about absorbing Canada into the US. These actions have caused market instability and recession fears.
