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Shkruar nga Pamfleti
Trump said he was imposing the latest tariffs in response to a decision by the Ontario government to impose a 25% tax on electricity exports to the US.
Tensions between the U.S. and Canada are deepening. President Donald Trump threatened on Tuesday with a sharp escalation in the trade war with Canada in retaliation for Ontario's export surcharge for U.S. electricity.
Trump said he would respond in kind to the 25% surcharge on electricity from Ontario.
That could further increase costs for Americans, especially in northern states that rely on energy from Canada. Ontario's surcharge, announced Monday, threatens to increase bills by $100 a month, Ontario Governor Doug Ford said.
In addition, Trump said he would impose even larger tariffs on Canadian steel and aluminum than he had planned on Wednesday.
Trump also said he would declare a national electricity emergency and threatened to "substantially" increase tariffs on cars coming into the United States from Canada starting April 2.
The president said these auto tariffs would “essentially shut down the auto manufacturing business in Canada forever.” “Those cars could easily be made in the U.S.!” Trump said.
Thus, the US President ordered his administration to increase tariffs on Canadian steel and aluminum imports by an additional 25%, bringing the total tariffs to 50%.
The new policy will take effect Wednesday morning, Trump said in a Social Truth post that also reiterated his calls for Canada to join the US as the "51st State."
Trump said he was imposing the latest tariffs in response to a decision by the Ontario government to impose a 25% tax on electricity exports to the US.
The Dow Jones Industrial Average deepened its losses after Trump's announcement, falling more than 400 points, while the S&P 500 fell 0.6% and the Nasdaq Composite fell 0.1%.
Markets are already reeling from the impact of Trump's tariffs and broader fears of a recession.
Minutes after Trump's announcement, Ford said he would keep his countermeasures on American energy in place.
"We will not back down. We will be relentless," Ford said on MSNBC.
"I apologize to the American people that President Trump decided to have an unprovoked attack on our country, on families, on jobs, and it is unacceptable," he said.
Trump in Tuesday's tweet also demanded that Canada "immediately remove" an "anti-American farm tariff" on certain American dairy products, warning that he "will soon declare a national emergency for electricity within the threatened area."
“This will allow the US to quickly do what needs to be done to mitigate this abusive threat from Canada,” he wrote.
Trump, who often touts tariffs as a highly economic tool, has touted April 2 as the date when he will impose widespread "reciprocal tariffs" on other countries that have their own duties on American goods. /Adapted from Pamphlet/
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