Summary
- President Trump announced that he will raise tariffs on Canadian steel and aluminum to 50%.
- This measure was announced as a retaliatory action against Canada's 25% increase in electricity prices sent to the United States.
- President Trump stated that he would significantly increase additional tariffs if Canada does not eliminate dairy tariffs.
As Retaliation for Ontario's Electricity Price Increase to the US
President Donald Trump announced on the 11th (local time) that he will raise tariffs on Canadian steel and aluminum to 50% as retaliation for Ontario's 25% increase in electricity prices sent to the United States.
Trump said in his social media post, "This will be announced tomorrow morning, March 12th (US local time)." This measure doubles the 25% tariff that was scheduled to take effect at 12:01 AM on the 12th.
President Trump said he would also "significantly increase" other tariffs on Canada on April 2nd if Canada does not eliminate tariffs on dairy and other American products.
Kim Jung-ah, Contributing Writer kja@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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