U.S. President Donald Trump pushed through with his plans to slap 25 per cent tariffs on all steel and aluminum imports, but held back on raising the levy to 50 per cent on Canadian imports.
Steel and aluminum entering the United States from any country are subject to the 25 per cent tariff that came into effect at midnight.
That said, it could have been a much stiffer penalty for this country as Trump planned to double the tariff on imports from Canada, but the president changed his tune after a phone call with Ontario Premier Doug Ford.
Ford, who was ready to hit the U.S. with a retaliatory surcharge on all electricity exports from his province, put a pause on that plan in exchange for the tariff reduction.
Speaking with reporters yesterday evening, Trump spoke highly of his conversation with Ford, calling him a gentleman.
However, he reiterated his claims that the U.S. doesn’t need Canada and we should become the 51st state.
Trump says his country has everything from lumber to electricity and does not need Canada to provide. The president once again claimed the United States spends $200 billion a year subsidizing Canada, which “could be solved” if Canada joins the U.S.
Ontario Premier Doug Ford (CPAC)
Ford, who will meet with U.S. Secretary of Commerce Howard Lutnick tomorrow, told NBC News that cooler heads need to prevail in the best interest of both countries.
He says both countries need to be protected before Trump’s tariffs and other tactics end up tanking the economy in both Canada and America.
