Washington — President Trump announced that he will implement even steeper tariffs on Canada starting Wednesday, increasing the levy on all steel and aluminum imports to 50%.
Mr. Trump stated that this decision was prompted by Ontario’s action to impose a 25% surcharge on electricity exports to the U.S. The president has previously imposed a 25% tariff on almost all imports from Canada and set a uniform 25% tariff rate on all steel and aluminum imports from any foreign country.
“Due to Ontario, Canada, imposing a 25% Tariff on ‘Electricity’ entering the United States, I have instructed my Secretary of Commerce to implement an ADDITIONAL 25% Tariff, bringing it 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, noting that these increased tariffs will take effect Wednesday.
Stocks plummeted once more on Tuesday amid uncertainty surrounding the president’s tariff policy and concerns that the U.S. economy may be heading toward a recession.
The president also urged Canada to eliminate tariffs on various U.S. dairy products and mentioned that he plans to declare a “national emergency on electricity” in regions affected by Canada’s electricity surcharge. New York, Minnesota, and Michigan, which border Canada, were specifically impacted by Ontario’s surcharge.
Additionally, the president reiterated his aspiration for Canada to become the 51st state of the United States, a notion that Canadians generally reject, implying that cooperation could alleviate tariff pressures.
“The only logical solution is for Canada to become our valued Fifty First State,” Mr. Trump remarked. “This would eliminate all Tariffs and everything else. Canadian taxes would be significantly reduced, and they would enjoy greater security, both militarily and otherwise, than ever before. The Northern Border issue would be resolved, and the world’s greatest and most powerful nation would be larger, better, and stronger than ever — with Canada playing a crucial role in that progress.”
