Trump Raises Canadian Steel, aluminum tariffs to 50% in retaliation for ontario energy duties

Presiding Donald Trump Said tuesday he has ordered his administration to raise tariffs on canadian steel and aluminum imports by an additional 25%, bringing the total duties to 50%.

The new policy will go into effect wedding morning, Trump said.

Trump said he was imposing the latest tarifs in response to a decision by ontario’s government to slap a 25% tax on electricity expenses to the US

That move by ontario Premier Doug Ford was it sesued in retaliation to the sweping 25% tarifs that trump had placed on important on important from canada.

“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%, to All Steel and Alluminumism Into the united states from canada, one of the highest tarifing nations Anywhere in the World, “Trump Wrote on Truth Social on tuesday morning.

“This will go into effect Tomorrow morning, March 12th,” He Wrote.

The Down jones Industrial Average Extended Its Losses After Trump’s Announcement, Falling More Than 400 Points, While The S & p 500 Dropped 0.6% and the Nasdaq composite Fell 0.1%.

Markets are alredy reeling from the impact of trump’s tarifs and broader fears of a Receration.

Trump also demanded that canada “immediatily drop” an “ani -merican farmer tarif” The threatened area. “

“This will allow the us to quickly do what has to be done to alleviate this abusive threat from canada,” He Wrote.

Minutes After Trump Sent the post, Ford said he would keep his countermeasure on us energy in place.

“We will not do back down. We will be relative,” Ford said on Msnbc. “I apologize to the american people that president trump decided to have an unprovocated attack on our country, on familys, on jobs, and it’s unacceptable.”

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