Trump Imposes 50% Tariffs on Canadian Steel and Aluminium in Retaliatory Move.

In a significant escalation of trade tensions, US President Donald Trump announced that he will double tariffs on Canadian steel and aluminium, increasing them from 25% to 50%. The new tariffs will take effect at midnight on Wednesday.

The decision comes in response to Ontario’s recent imposition of 25% tariffs on electricity exports to northern US states. Trump characterized the move as an unfair trade practice and vowed to take decisive action to protect American industries. In a statement, he declared that he would also be declaring “a national emergency on electricity” in the affected states.

The White House has scheduled a briefing at 13:00 EDT (17:00 GMT), where officials are expected to discuss the tariffs in greater detail. The announcement has already sent shockwaves through financial markets, contributing to what has been described as the worst trading day of 2025, as investors fear the consequences of Trump’s aggressive tariff policies on America’s key trading partners.

Ontario’s Premier swiftly responded to the tariffs, stating, “We will not back down,” and calling on Trump to “stop the chaos.” The Canadian government has yet to outline its next steps, but tensions between the two countries are now at a new high.

Tariffs are taxes imposed on imported goods, with the companies bringing the goods into the country responsible for paying them to the government. In this case, US businesses that rely on Canadian steel and aluminium will bear the brunt of the increased costs, potentially leading to higher prices for consumers and disruptions in industries that depend on these materials.

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