Washington — President Trump said that he will impose even higher tariffs on Canada beginning on Wednesday, doubling the levy on all steel and aluminum imports to 50%.
Mr. Trump said the decision came in response to Ontario’s move to impose a 25% surcharge on electricity exports to the U.S. Mr. Trump has already imposed a 25% tariff on nearly all imports from Canada, and declared a 25% tariff rate on all steel and aluminum imports from any foreign country.
“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, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD,” the president wrote on Truth Social, saying those higher tariffs will go into effect Wednesday.
Stocks tumbled again on Tuesday amid uncertainty over the president’s tariffs regime and fears that the U.S. economy could slip into a recession.
The president also called on Canada to drop tariffs on various U.S. dairy products, and said he will be declaring a “national emergency on electricity” in the areas affected by Canada’s electricity surcharge. New York, Minnesota and Michigan, which border Canada, were targeted by Ontario’s surcharge.
The president also reiterated his desire for Canada to become the United States’ 51st state, a proposal Canadians oppose, suggesting the northern neighbor won’t face tariff pressure if they acquiesce.
“The only thing that makes sense is for Canada to become our cherished Fifty First State,” Mr. Trump wrote. “This would make all Tariffs, and everything else, totally disappear. Canadians taxes will be very substantially reduced, they will be more secure, militarily and otherwise, than ever before, there would no longer be a Northern Border problem, and the greatest and most powerful nation in the World will be bigger, better and stronger than ever — And Canada will be a big part of that.”
