U.S. President Donald Trump has announced a 25% tariff on all Canadian steel and aluminum imports, effective March 12. This decision, shared via Truth Social, aims to counteract what Trump describes as unfair trade practices by Canada. The tariff increase is expected to impact $1.6 billion worth of Canadian steel and aluminum exports to the U.S. annually. This move could potentially lead to a 10% rise in steel prices in the U.S., according to industry analysts. Additionally, the U.S. imported approximately 5.5 million metric tons of steel from Canada in 2022, which was 15% of its total steel imports. The new tariffs are likely to strain the economic relationship between the two countries, with potential repercussions for both economies.
AJ Huber
@Huberton
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2h BREAKING: President Trump just announced placing an additional 25% tariff on Canada, to 50% tariffs on Canadian steel & aluminum starting tomorrow, and to Ontario 25% electricity tariff. FAFO
Mario
@PawlowskiMario
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2h BREAKING: Trump declares a National Emergency on electricity while raising tariffs on all Canadian steel & aluminum to 50%.
Canada responds with massive electricity surcharges on U.S. states.
Stock market nosediving. Recession watch ON.
Jesus is King
@ProseccoLiquido
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1h Trump declares a National Emergency on electricity while raising tariffs on all Canadian steel & aluminum to 50%.
Canada responds with massive electricity surcharges on U.S. states.
AwakenedOutlaw
@AwakenedOutlaw
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1h Trump was set to impose a 25% tariff on Canadian steel and aluminum at midnight, but the buffoon Doug Ford (Premier of Ontario) decided he wanted to unilaterally impose an electricity tariff on US customers.
All Trump is asking for is FAIR TRADE and has both the will and means
CALL TO ACTIVISM
@CalltoActivism
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Feb 11 BREAKING NEWS!!!
Canadian PM candidate Chrystia Freeland just announced that in response to Trump imposing 25% tariffs on all steel and aluminum, she’s proposing a 100% tariff on all Teslas and will strategically target red states.
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