Trump Raises Tariffs on Canadian Steel, Aluminum to 50%

President Donald Trump has escalated the trade conflict with Canada by instructing his Secretary of Commerce to raise tariffs on Canadian steel and aluminum to 50%, effective March 12. This decision follows Ontario's 25% tax on electricity exported to U.S. states, which Trump claims threatens American industries. If Canada does not remove its own tariffs on U.S. goods, Trump has warned of further actions, including potentially ending Canada's automobile manufacturing sector. The announcement has significantly impacted the stock market, causing declines in major automakers like General Motors and Ford, while benefiting steel producers. Canada has not yet formally responded to these latest tariff increases, but previous indications suggest retaliation could follow. The ongoing trade tensions have raised concerns among various sectors, including agriculture, about the long-term implications of such tariffs.