Trump Doubles Tariff Rate To 50% On Steel Coming To US From Canada After Ontario's 25% Move On Electricity

Amid the ongoing trade tariff war, President Donald Trump on Tuesday doubled his planned tariffs on steel and aluminum products imported from Canada to 50 percent. The move came in response to Ontario's decision to impose a 25 percent tariff on its electricity exports to the United States.

Canada's most populous province Ontario on Monday announced that effective Monday it is charging a 25 percent additional tariff for electricity to 1.5 million Americans in response to US President Donald Trump's trade war.

What Did Trump Say?

In a post on his Truth Social media platform,Trump announced that he had instructed his commerce secretary to add an additional 25 percent tariff on the metals products that will go into effect on Wednesday morning.

"Also, Canada must immediately drop their Anti-American Farmer Tariff of 250% to 390% on various US dairy products, which has long been considered outrageous. I will shortly be declaring a National Emergency on Electricity within the threatened area", Trump wrote.

Moreover, Trump also threatened to "substantially increase" tariffs on cars coming into the US on April 2 "if other egregious, long time Tariffs are not likewise dropped by Canada."

Broader 25 percent levies on all steel and aluminum imported to the US from anywhere are due to take effect early on Wednesday.

Earlier, Trump has threatened Canada with new tariffs targeting Canadian lumber and dairy products. Citing Canada's roughly 250% tariff on US dairy exports to the country, President Trump said in an Oval Office address, "Canada has been ripping us off for years on lumber and on dairy products," CNN reported.

“We may do it as early as today, or we’ll wait until Monday or Tuesday. We’re going to charge the same thing. It라이브 바카라 not fair. It never has been fair, and they’ve treated our farmers badly," Trump said, as quoted by CNN.

Right after assuming the office for his second tenure as the US president, Trump said that he could put 25 percent trade tariffs on Canada and Mexico starting on February. For products from China, Trump announced a levy of 60 percent levy.

In his inaugural address, Trump pledged that tariffs would be imposed and said foreign countries would be paying the trade penalties, even though those taxes are currently paid by domestic importers and often passed along to consumers.

However, a day after pausing planned tariffs for at least a month for Mexico, US President Donald Trump on February 4 agreed to do the same with Canada after a meeting with Prime Minister Justin Trudeau. However, Trump's tariffs against China are still slated to go into effect on Tuesday.

On February 3, Trump paused the tariffs it imposed on Mexico. In a tweet, Claudia Sheinbaum Pardo, President of Mexico in her conversation with USA President Donald Trump said that the tariffs have been paused for a month.