On March 8, Ambassador to Windsor, Ambassador to Canada, flies Canada and US flags on Canada.
Getty Images via Jeev Robbins/AFP
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Getty Images via Jeev Robbins/AFP
One day before steel and aluminum prices were practiced, President Trump announced that he would double the rest of the world rate, especially on Canada’s steel and aluminum.
“I have instructed my Secretary of Commerce to add 50 % additional 25 % tariff to all steel and aluminum coming from Canada to the United States.” Wrote in a post of Tuesday On your social media site. “It will be implemented tomorrow morning on March 12.”
The last minute change in steel and aluminum prices, which Trump had already implemented at midnight, is the latest Chaos tariff policy. Trump promised to focus his second term prices, and that the term has really been marked, threatened and withdrawn through a series of rates imposed. The uncertainty caused by these high -speed shifts has shaken the stock markets and other economic indicators.
In his post, Trump said he was imposing taxes in response to Ontario 25 % surcharge implementation On electricity exports, which the province had said would affect consumers in Minnesota, Michigan and New York.
Ontario’s Premier Dougford said that the surcharge in response to Trump Trump has threatened Canada – and has repeatedly delayed. In his latest move, Trump imposed taxes on Canadian goods last week, then delayed some of them for a month.
Ford said in a statement that it would not cancel the electricity surcharge “unless the risk of revenue is good.”
Trump said he would announce a “national emergency situation” to support the affected area, though it was not immediately clear what would be involved. In general, emergency announcements increase executive powers to tackle a crisis. Trump has used many times.
The president once again suggested that Canada would become a US state.
“This will eliminate all the rates and everything completely,” Trump wrote. “
It is unclear why Trump has settled about the state of Canada, the idea that Canada’s leadership is repeatedly and Firmly rejected..
US tariff on steel and aluminum means that US companies will pay more prices to import these products. This can increase the cost of US business and consumers. Is Canada The largest exporter In both steel and aluminum, the United States, ie, can have a considerable economic impact of 50 % tax on these imports.
In recent weeks, stock indexes have fallen significantly, as Trump’s prices have participated in economic uncertainty. At the Market Open on Tuesday, the S&P 500 was more than 7 %, where it was after the inauguration of Trump.
Although the stock market must detect overall economic health, other indicators have shown weakness. Consumer confidence And Consumer costs Both have posted the recent decline. In an weekend interview with Fox News, Trump will not reject the possibility of recession.
Trump and administration officials have repeatedly developed any economic outcome from the rates as a short -term pain. The administration has said that the targets of revenue include high income, promoting manufacturing jobs in the United States and slowdown in fantasy entering the country. Those goals in several ways Conflict with each other – For example, a tariff can promote American manufacturing by preventing the purchase of foreign goods. But then, this tariff will not make much income, as businesses and consumers will be buying US goods, and therefore will not pay tariffs.
Trump is talking to the Business Round Table, the CEO’s CEO’s CEO, on Tuesday evening. Those leaders will likely seek clarification about the president’s economic strategy and goals.
