Trump says he's doubling tariffs on Canadian steel and aluminum to 50%
CBSN
Washington — President Trump said that he will impose even higher tariffs on Canada beginning on Wednesday, doubling the levy on all steel and aluminum imports to 50%.
Mr. Trump said the decision came in response to Ontario's move to impose a 25% surcharge on electricity exports to the U.S. Mr. Trump has already imposed a 25% tariff on nearly all imports from Canada, and declared a 25% tariff rate on all steel and aluminum imports from any foreign country.
"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," the president wrote on Truth Social, saying those higher tariffs will go into effect Wednesday.
Washington — President Trump said that he will impose even higher tariffs on Canada beginning on Wednesday, doubling the levy on all steel and aluminum imports to 50%.
U.S. stocks caved again on Tuesday as President Trump escalated his trade war with Canada, with the Dow Jones Industrial Average falling 600 points and the S&P 500 approached correction territory.
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Brian D. Taylor is a professor of urban planning and public policy at the University of California, Los Angeles, Eric Morris is a professor of city and regional planning at Clemson University and Sam Speroni is a PhD Student in urban planning at the University of California, Los Angeles.