President Donald Trump has turned his attention to Canada, threatening economic retaliation after Ontario Premier Doug Ford imposed a 25% surcharge on electricity exports to the U.S.
In a series of Truth Social posts on Tuesday morning, Trump vowed to make Canada suffer financially, calling the move an “unprovoked attack” and warning that the retaliation will be so severe that it will be “read about in history books for many years to come.”
Ford’s electricity levy took effect Monday, a direct response to Trump’s previous tariffs on Canadian goods. Trump escalated the fight within hours, announcing new 50% tariffs on steel and aluminum from Canada, effective Wednesday morning. “This will go into effect TOMORROW MORNING, March 12th,” Trump wrote, making it clear that his administration was not backing down from the trade war.
Trump increases tariffs, threatens auto industry and national emergency
Trump is not stopping at steel and aluminum. He is now demanding that Canada drop what he calls an “Anti-American Farmer Tariff” on U.S. dairy products, adding that if Ottawa refuses, he will substantially raise tariffs on Canadian auto imports on April 2.
According to Trump, these auto tariffs will “essentially, permanently shut down the automobile manufacturing business in Canada.”
Trump is also preparing to declare a National Emergency on Electricity in response to Ford’s electricity surcharge. “This will allow the U.S. to quickly do what has to be done to alleviate this abusive threat from Canada,” Trump posted.
It’s unclear exactly what the emergency declaration would entail, but Trump has used similar tactics in the past to push through aggressive trade measures.
The U.S. stock market has not reacted well. The S&P 500 is down 10% from its all-time high, officially entering correction territory following Trump’s latest trade war escalation. White House Press Secretary Karoline Leavitt has brushed off the decline, calling it temporary, while Treasury Secretary Scott Bessent insists the economy is going through a “rebalancing” rather than a crisis.
Ford refuses to drop tariffs, threatens electricity cut-off
Ford is standing firm. Minutes after Trump’s Truth Social posts, he went on MSNBC and made it clear that Ontario will not remove the 25% surcharge on U.S.-bound electricity. “We will not back down. We will be relentless,” Ford said, calling Trump’s latest tariffs an “unprovoked attack” on Canadian families and jobs.
Ford took things further in an interview with CNBC’s “Money Movers”, saying he would consider cutting off electricity exports to U.S. states entirely if Trump “continues to hurt Canadian families.”
He specifically pointed to Michigan, New York, and Minnesota, states that rely heavily on Ontario’s power supply. “I won’t hesitate to do that,” Ford said. “That’s the last thing I want to do, but I won’t hesitate.”
Trump’s on-again, off-again tariffs on Canada and Mexico have fueled months of economic uncertainty. He initially imposed tariffs in February, then delayed them for a month, reimposed them, partially delayed them again, and is now doubling down on them.
The White House has no scheduled calls with Canadian officials, but expects Ottawa to reach out Tuesday, according to a senior administration official.
Meanwhile, Ukraine has agreed to a U.S. proposal for a 30-day ceasefire with Russia, and Iranian President Pezeshkian has dismissed Trump’s latest threats, telling him “do whatever the hell you want.” But for now, Trump seems more focused on his fight with Canada, and the economic fallout is just beginning.
Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed