• 12/03/2025 02:00

Trump Increases Tariffs on Select Canadian Goods to 50%

US President Donald Trump announced new tariffs against Canada on Tuesday, March 11, in response to the Canadian province of Ontario's 25% tax on electricity for the US. Washington will raise duties on Canadian steel and aluminum to 50%. Trump wrote about this on his social network TruthSocial.

Трамп увеличил пошлины на отдельные канадские товары до 50%

► Read the Minfina Facebook page: main financial news

“Given that Ontario, Canada, has imposed a 25% tariff on 'electricity' entering the United States, I have directed my Minister of Commerce to add an additional 25% tariff, bringing it to 50%, on all steel and aluminum entering the United States from Canada,” he said.

According to him, this tariff will come into force tomorrow, March 12.

Trump also noted that Canada should immediately end its anti-American farm tariff of between 250% and 390% on various American dairy products.

“I will shortly declare an electrical emergency in the threatened area. This will allow the United States to quickly take the necessary action to address this offensive threat from Canada,” Trump said.

The US President also said that if Canada does not eliminate other long-standing tariffs, he will significantly increase tariffs on imported cars into the US on April 2, which would effectively destroy the Canadian auto industry forever.

Moreover, in Trump's view, Canada pays very little for national security, relying on the United States for military protection.

“We subsidize Canada by over $200 billion a year. Why? It can't go on,” Trump said.

The only thing that makes sense, he says, is for Canada to become the 51st state in the United States. If that happens, all tariffs and other contentious issues will be moot.

“Canadians’ taxes will be significantly lower, they will be more secure — militarily and otherwise — than ever before, the Northern Border problem will be gone, and the largest, most powerful nation in the world will be bigger, better, and stronger than ever — and Canada will be a bigger part of it,” Trump added.

Let us recall

The Canadian province of Ontario announced Monday, March 10, that it would raise electricity prices by 25% for American consumers in response to Trump's 25% tariffs. Ontario supplies electricity to the states of Minnesota, Michigan and New York.

🕵️ We created a short survey to learn more about our readers.

💛💙 Your answers will help us become better, pay more attention to the topics that interest you.

🤗 We would be grateful if you could take a minute to answer our questions.

    minfin.com.ua

    Leave a Reply

    Your email address will not be published. Required fields are marked *