Donald Trump doubled planned tariff on Canada steel and aluminium
Published On Mar 11, 2025, 10:33 AM
President Donald Trump announced he will double tariffs on Canadian steel and aluminum imports to 50% due to retaliatory tariffs that Ontario imposed on electricity sent to northern U.S. states. Trump stated that if these tariffs, including those on agricultural products, are not lifted, he would impose taxes on the car industry, potentially crippling automobile manufacturing in Canada.
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Rising tariffs typically lead to increased production costs for manufacturers that rely on imported materials, which could negatively impact companies in the automotive and aluminum sectors. U.S. companies may also face retaliatory tariffs, affecting their market performance.
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