CANADA: Trump announces fresh massive tariffs

US President Donald Trump announced massive new tariffs on Canadian steel and aluminum Tuesday, while threatening to “shut down” its auto industry and saying the best way to end the trade war was for Washington’s ally to be absorbed into the United States. Trump’s shock new threats came hours before a midnight deadline for ramping […]

US President Donald Trump announced massive new tariffs on Canadian steel and aluminum Tuesday, while threatening to “shut down” its auto industry and saying the best way to end the trade war was for Washington’s ally to be absorbed into the United States.
Trump’s shock new threats came hours before a midnight deadline for ramping up the Republican’s increasingly global trade offensive.
On his Truth Social platform, Trump announced that he would double planned 25-per cent tariffs on steel and aluminum to 50 per cent for imports of the metals from Canada.
A 25-per cent levy is still due to kick in Wednesday for other US trading partners, hitting Brazil, Mexico, the United Arab Emirates and other countries.
The upcoming tariffs, which currently allow for no exceptions, threaten to affect everything from electronics to vehicles and construction equipment – and have manufacturers scrambling to find cost-effective domestic suppliers.