US President Donald Trump has shared on social media that he will be raising the tariff on all steel and aluminium coming into the US from Canada to 50%.
A 25% tariff was set to be implemented on Wednesday.
Trump’s post on Truth Social says: “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.”
Yesterday, Ontario’s Premier Doug Ford announced a 25% surcharge on US-bound electricity.
Roughly 1.5 million American homes and businesses in the northern border states of New York, Michigan and Minnesota will be impacted.
At Monday’s news conference, Ford threatened to escalate further if the US increases their tariffs on Canada.
He says the move will come into effect tomorrow morning, and is in response to the Canadian government introducing a 25% tariff on electricity exports to the US.
Trump writes on social media: “I will shortly be declaring a National Emergency on Electricity within the threatened area. This will allow the U.S to quickly do what has to be done to alleviate this abusive threat from Canada.
Tariffs are a central part of Trump’s economic plans. He says tariffs will boost US manufacturing and protect jobs, as well as raising tax revenue and growing the economy.
Goods from China, Mexico and Canada accounted for more than 40% of imports into the US in 2024.
But Trump has accused the three countries of not doing enough to end the flow of migrants and illegal drugs such as fentanyl into the US.
All three countries have rejected the accusations.
Fentanyl is linked to tens of thousands of overdose deaths in the US each year.
Outgoing Canadian Prime Minister Justin Trudeau said his country was responsible for less than 1% of fentanyl entering the US, most of which comes from Mexico.
