Tue Mar 11 16:09:50 UTC 2025: ## Trump Doubles Tariffs on Canadian Steel and Aluminum, Threatens Further Action
**New York, NY** – Former President Donald Trump announced a dramatic escalation in the trade war with Canada, doubling tariffs on all Canadian steel and aluminum imports to 50%. This move, announced on his Truth Social platform, follows Ontario’s decision to raise electricity prices for US consumers in New York, Michigan, and Minnesota. The increased tariffs will take effect Wednesday.
Trump also demanded Canada immediately rescind what he termed “outrageous” tariffs on US dairy products, threatening to declare a national electricity emergency. Further, he warned of substantially increased tariffs on Canadian cars by April 2nd unless other unspecified tariffs are removed.
Ontario Premier Doug Ford responded defiantly, stating he would not back down until all of Trump’s tariffs on Canadian imports are lifted.
The announcement sent shockwaves through financial markets. The S&P 500 index fell nearly 1%, while the Toronto Stock Exchange and Canadian dollar also experienced declines. The move adds to existing concerns about broader 25% tariffs on steel and aluminum imports from various countries, including Canada, Brazil, Mexico, and South Korea, that are scheduled to take effect Wednesday. These tariffs, Trump claims, aim to bolster struggling US industries.
Economists express growing concern over the potential for recession and increased inflation stemming from Trump’s ongoing trade disputes. A recent survey revealed weakening small business sentiment and a consensus among economists that the risk of recession has increased across North America. The escalating trade conflict is creating significant uncertainty for businesses and investors.
First Piper 