Canadian steel, aluminum tasks will rise to 50%

President Donald Trump He said Tuesday that he ordered his administration to increase tariffs on the imports of steel and Canadian aluminum by an additional 25%, which raises total 50%tariffs.

The new policy will enter into force on Wednesday morning, Trump said.

Trump said he was imposing the last tariffs in response to a decision from the Ontario government to Repair a 25% tax In electricity exports to the US.

That movement of the Prime Minister of Ontario, Doug Ford, was issued in retaliation to the 25% tariffs that Trump had imposed on Canada’s imports.

“Based on Ontario, Canada, placing a 25%tariff on the” electricity “that arrives in the United States, I have instructed my secretary of Commerce to add an additional rate of 25%, to 50%, in all the steel and aluminum that arrives in the United States from Canada, one of the highest nations anywhere in the world,” Trump wrote about Social truth Tuesday morning.

“This will come into force tomorrow morning, March 12,” he wrote.

He Dow Jones industrial extended his losses after Trump’s announcement, falling more than 400 points, while the S&P 500 0.6% fell and the Nasdaq compound 0.1%fell.

Markets are already staggering for the impact of Trump’s tariffs and the broadest fears of a recession.

Minutes after Trump’s announcement, Ford said he would keep his countermelted on American energy in his place.

“We will not go back. We will be relentless,” Ford said in MSNBC. “I apologize to the American people that President Trump decided to have an attack not caused against our country, families, in the works, and is unacceptable.”

Trump in Tuesday also demanded that Canada “immediately” a “tariff of anti -American farmers” on certain dairy products from the United States, warning that he “will soon declare a national emergency on electricity within the threatened area.”

“This will allow the United States to quickly do what needs to be done to relieve this abusive threat of Canada,” he wrote.

The president also declared that if Canada does not raise other “atrocious and long rates” in the United States, “will substantially increase” the rates of automotive imports on April 2.

Doing it “will essentially close, permanently the car manufacturing business in Canada,” Trump wrote.

Trump, which frequently praises tariffs as an economic multiprleol, has promoted April 2 as the date on which he will impose “reciprocal” generalized tariffs on other countries that have their own duties over US goods.

These are last -minute news. Update the updates.