Wall Street Rattled Again As Donald Trump Pledges To Double Tariffs On Canadian Steel And Aluminum
deadline.comDonald Trump escalated his trade war with Canada again today, promising to double the tariffs on aluminum and steel. Wall Street jitters over the White House economic policy continued again, as the Dow Jones Industrial Average was off by more than 300 points in morning trading.
Trump’s latest tariff was in response to a 25% surcharge in the price of electricity coming into the United States from the Canadian province of Ontario.
Trump wrote on Truth Social, “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.
This will go into effect TOMORROW MORNING, March 12th.” The premier of Ontario, Doug Ford, said on CNBC that “this chaos has to stop.” “Until President Trump gets rid of the tariffs 100%, we sit down at the table and discuss a new USMCA deal, all it is doing is hurting the markets,” he said.
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