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U.S. Imposes 50% Tariffs on Canadian Steel and Aluminum Amid Trade Tensions
In a significant escalation of trade tensions, U.S. President Donald Trump has announced a 50% tariff on all steel and aluminum imports from Canada, effective midnight. This decision doubles the previously threatened 25% tariff and comes in response to Ontario's recent imposition of a 25% surcharge on electricity exports to the United States.
The move has sparked concerns about its potential impact on both economies. Canadian officials have expressed dismay, warning of retaliatory measures, while U.S. manufacturers and consumers brace for higher costs. President Trump has also hinted at further tariffs on Canadian automobiles if the dispute remains unresolved.
This development marks a new chapter in the ongoing trade disputes between the two nations, with significant implications for industries and markets on both sides of the border.
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