Trump ups tariffs on Canadian steel, Aluminum to 50%

On Tuesday, former President Donald Trump announced a significant escalation in trade tensions with Canada, unveiling plans to double tariffs on all Canadian steel and aluminum imports to 50%.

This move comes in direct response to the province of Ontario's imposition of a 25% tariff on electricity exports to the United States.

In a post on Truth Social, Trump stated that he has directed his commerce secretary to implement an additional 25% tariff on these products, which is set to take effect on Wednesday morning.

Trump's announcement did not stop at steel and aluminum. He demanded that Canada immediately eliminate what he termed the "Anti-American Farmer Tariff" on U.S. dairy products, which currently ranges from 250% to 390%.

"This has long been considered outrageous," he declared, further revealing plans to declare a "National Emergency on Electricity" in the affected region.

Additionally, Trump issued a cautionary note regarding the auto industry, threatening to "substantially increase" tariffs on Canadian cars entering the U.S. by April 2 unless Canada drops other longstanding tariffs he deemed unfair.

These developments mark yet another chapter in the ongoing trade disputes between the two neighboring countries, with potentially wide-reaching implications for both economies.