🇺🇸 U.S. President Donald Trump has announced an increase in tariffs on Canadian steel and aluminum, raising them from 25% to 50%. This decision comes in response to Ontario’s newly imposed 25% tariff on electricity exports to the United States.
🔹 Trump has also demanded that Canada immediately remove its high tariffs on American dairy products, which range from 250% to 390%. He called these measures “outrageous”, escalating tensions between the two nations.
📉 The announcement triggered a 1.1% drop in the S&P 500, reflecting market concerns over a growing trade dispute. Trump further suggested that Canada’s best option is to integrate with the U.S., fueling speculation about the future of trade relations.
