Trump doubles tariffs on Canada’s aluminum, steel to 50%
US President Donald Trump has decided to double the tariffs on the Canadian aluminum and steel from 25% to 50% as retaliation for the province of Ontario’s imposition of a 25% surcharge on electricity exports to several US states.
The 25% surcharge was issued by Ontario’s Prime Minister Doug Ford in retaliation for the sweeping 25% tariffs that Trump placed on imports from Canada in the first place.
“Based on Ontario, Canada, placing a 25% Tariff on “Electricity” coming into the United States, I have instructed my Secretary of Commerce to add 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 his Truth Social account on Tuesday.
Trump said he will declare a "national emergency" in the three states that have been affected by the surcharge.
Furthermore, he warned Canada to drop its tariffs on the US dairy products.
He threatened to "substantially increase" tariffs on cars imported into the US if Canada did not drop "other egregious, long time tariffs."
Trump also repeated his rhetoric about making Canada a part of the US and turning it into “[the] cherished Fifty-First State.”
“Canadians would more secure, militarily and otherwise, than ever before,” he said.
He reiterated that unification with the US will also solve the border problems.
The trade war has sparked fear among business leaders and economists alike as it will increase the risk of recession across the globe, especially in the US itself.
Trump himself has not ruled out the possibility of a recession in the US if he continues the trade war with his country’s major trade partners.
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