President Donald Trump announced a surge in new tariffs in Canada, which will come into effect Wednesday.
Trump Posted On Truthsocial, he announced Tuesday that he had directed his Commerce Department’s secretary to double the previously announced 25% Canadian tariffs on steel and aluminum. The tariffs are expected to come into effect Wednesday, Trump said, and he called on Canada to “fall between 250% and 390% anti-American farmers’ tariffs on a variety of US dairy products.” (Related: Exclusive: Peter Navarro reveals the real plan behind Trump’s new tariffs)
“I will soon declare a national emergency regarding electricity in the region that was blackmailed,” Trump wrote.
Trump added that if Canada fails to comply with his requests, he will introduce additional tariffs on cars on April 2.
“On April 2nd, there will be a significant increase in tariffs on cars coming to the US, which will permanently close Canadian car manufacturing. Those cars can be easily made in the US!” Trump wrote.
“Also, Canada relies on national security and relies on the US for military protection. We subsidize Canada to more than $200 billion a year. Why??? This cannot continue. The only thing that makes sense is that Canada will become our precious 50 first province,” he continued.
Asked about the possibility of a recession amid his tariff fight, Trump I said Fox News says he hates “predicting things.”
“I hate predicting such things. What we do is so big, so there’s a period of transition. We’re bringing wealth back to America. That’s a big thing. And there’s always a period – it takes a little time. It takes a little time, but I think it should be great for us,” Trump said.
US stock market on Monday slideas the Dow dropped almost 900 points and the S&P 500 fell 2.7%. The value of the Canadian dollar against the US dollar also slipped on Tuesday.
US President Donald Trump will be awarded Paldon after signing a series of enforcement orders that include (LR) Policy Stephen Miller’s Deputy White House Deputy Chiefs of Staff, White House Will Scharf, President Donald Trump Navarro Will Scharf and Commerce Candidate Howard Luttonick’s Will Scharf, and a series of enforcement orders that include 25% tariffs on steel. Orders that the Practice Act and the federal government will stop using paper straws and begin using plastic straws on February 10, 2025 in Washington, DC, at the White House oval office. (Photo: Andrew Harnik/Getty Images)
Trump’s administration said it would hit Mexico and Canada with 25% tariffs and China. Concessions were made by Mexico and Canada a few hours before the tariffs were to be enacted.
Once the suspension is lifted, Trump announced that he has suspended 25% tariffs on Mexican imports covered by the existing US-Mexico-Canada Agreement (USMCA), a trade agreement between North American states, for a month.
“Taxes for Canadians will be reduced very significantly. They will be safer, militarily, otherwise the Northern border issue will be no longer, and the world’s greatest and most powerful nation will be bigger and stronger than ever.
