The stock quickly rolled after Trump’s Truth Social Post announced his latest tariff threat. According to CNN, Nasdaq composites increased by 0.3% and increased by 0.3%, while the S&P 500 and Dow remained in the area of 0.3% and 0.8% decline, respectively.
Trump said there will be a 25% tariff on Canada’s electricity and will kindly respond to Ontario’s 25% surcharge on electricity to New York, Minnesota and Michigan. This could further increase costs for Americans, especially in northern states that rely on energy from Canada. Ontario Premier Doug Ford said the Ontario extra fees announced Monday were announced, threatening to raise bills by $100 a month in the month.
Additionally, Trump said he would collect even greater tariffs on Canada’s steel and aluminum than he had planned on Wednesday.
“I put a 25% tariff on ‘electricity’ entering the US based on Ontario, Canada, so I said on Tuesday on all steel and aluminum, one of the highest tariffs in the world, on all steel and aluminum, one of the highest tariffs in the world, to advertise an additional 25% tariff at 50%.
Ford threatened to cut off electricity supply to the United States completely.
Trump also said he would declare a state of national power emergency in Ontario, targeted provinces. “Can you imagine Canada is lower than it uses electricity? Trump said in the Truth Social Post Tuesday.
Meanwhile, he threatened to “essentially” increase tariffs on cars coming to the US from Canada from the United States from the 2nd.
The president said these car rates would “essentially shut down Canadian car manufacturing forever.” Those cars are easy to make in the US! ”
The announcement comes ahead of a midnight deadline when Trump threatened to impose a 25% tariff on all steel and aluminum imports.
Another looming threat: 250% tariff on Canadian dairy products. The president announced on Friday, but he has not yet confirmed anything. Trump said the tariff corresponds to Canadian taxes on American dairy products, which could reach 241% for milk.
In an interview with CNN’s Wolf Blitzer on Tuesday, Ford said such tariffs would be “under the skin (of Trump),” but that’s why Trump thinks he should “sit down and talk about it.”
MNA