美国MITBBS

US President Donald Trump says he will double tariffs on Canadian steel and aluminium from 25% to 50%

In a deepening trade war, Trump says this latest move is in retaliation to 25% tariffs Ontario placed on electricity it sends to northern US states

In response, Ontario's premier says "we will not back down" and calls on Trump to "stop the chaos"

As a reminder: Tariffs are taxes charged on goods imported from other countries. The companies that bring the goods into the country pay the tax to the government

Trump says the tariffs will begin on Wednesday, adding that he'll declare "a national emergency on electricity" in those states

The latest escalation comes after the worst day of 2025 for US markets, fuelled by fears of President Donald Trump's aggressive tariffs on America's biggest trading partners

When asked about a potential recession in a recent interview, Trump said the economy was in a "period of transition"

https://www.bbc.com/news/live/cly412xwz44t

New tariffs on Canadian steel and aluminum will be 25% not 50%, White House says
Peter Navarro, a senior aide to Donald Trump on trade, told CNBC that the president had reversed his decision, announced this morning, to double planned tariffs on Canadian steel and aluminum to 50%.

New tariffs of 25% on all imported steel and aluminum are still scheduled take effect at midnight on Wednesday, including against allies and top US suppliers Canada and Mexico, the White House confirmed to Reuters after Navarro’s interview.

Trump had earlier signaled to reporters outside the White House that he was rethinking his decision to double tariffs on Canadian steel and aluminum imports, after Ontario’s premier Doug Ford canceled a 25% surcharge on electricity exports to three US states.

Canada to impose 25% tariffs on nearly $30bn in US imports as trade war flares
In response to 25% tariffs imposed by Donald Trump on Canadian steel and aluminum imports, Canada’s finance minister, Dominic LeBlanc, says his country will tomorrow retaliate with levies of the same amount on almost $30bn in imports from the United States.

“I am announcing that the government of Canada, following a dollar for dollar approach, will be imposing, as of 12.01am, tomorrow, March 13, 2025, 25% reciprocal tariffs on an additional $29.8bn of imports from the United States,” LeBlanc said at a press conference.

“This includes steel products worth $12.6bn and aluminum products worth $3bn, as well as additional imported US goods worth $14.2bn for a total of $29.8bn. The list of additional products affected by counter-tariffs includes computers, sports equipment and cast iron products, as examples.”