US EditionTrump raises Canadian steel, aluminum tariffs to 50% in retaliation for Ontario energy duties
- President Donald Trump announced he will double tariffs on steel and aluminum from 25% to 50% for Canada, escalating trade tensions as a response to Ontario's electricity price hike.
- The U.S. Stock market fell sharply after Trump's announcement, raising concerns about an economic downturn and pressures for a clear economic growth plan.
- Economist Larry Summers suggested a significant chance of recession due to the uncertainty affecting demand and inflation.
- Trump claimed that tariffs would lead to more U.S. Factory investments, but the impact on job creation remains unclear amid rising economic anxieties.
452 Articles
452 Articles
The New Arab
Trump doubles down on Canada trade war with major tariff hike
US President Donald Trump doubled tariffs on Canadian steel and aluminium on Tuesday while threatening to "shut down" the country's auto industry and saying the best way to end the trade war is for Washington's ally to be absorbed into the United States. Trump's new threats came hours before a midnight deadline for ramping up the Republican's globe-spanning trade offensive with levies on both metals. On his Truth Social platform, Trump said he w…
Newcastle Herald
The Canberra TimesTrump doubles Canada metal tariffs, Ontario backs down
The UK would not impose retaliatory trade tariffs in response to US duties on all steel and aluminium...
Economist Steve Moore Warns Countries Making ‘Huge Mistake’ By Fighting President On Tariffs
Economist Steve Moore warned other nations on Tuesday that challenging President Donald Trump on tariffs would significantly backfire on their economies. In response to Ontario, Canada imposing a 25% tariff on electricity entering America, Trump announced on Truth Social Tuesday that he instructed the Commerce Department secretary to double the previously announced 25% tariff on Canadian steel and aluminum, […] Economist Steve Moore Warns Count…
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