Steel and Aluminum Tariffs Skyrocket

A recent announcement has made waves in the global market. The United States has decided to hike up the tariffs on steel and aluminum imports from Canada by an additional 25%. This move brings the total duties to a whopping 50%. This decision comes as a response to Ontario's recent 25% tax on electricity exports to the U. S. The U. S. President has been vocal about his desire for Canada to become the 51st state. This is not the first time that the U. S. has imposed tariffs on Canada. This time around, the tariffs are in response to Ontario's decision to tax electricity exports to the U. S. This decision by Ontario was itself a retaliation to the sweeping 25% tariffs that the U. S. had placed on imports from Canada. The U. S. President has also demanded that Canada drop an "Anti-American Farmer Tariff" on certain U. S. dairy products. He has also warned that he may declare a National Emergency on Electricity within the threatened area. This would allow the U. S to quickly do what has to be done to alleviate this abusive threat from Canada. The stock market has not taken this news lightly. The Dow Jones Industrial Average extended its losses, falling more than 400 points, while the S&P 500 dropped 0. 6% and the Nasdaq Composite fell 0. 1%. Markets are already reeling from the impact of the U. S. President's tariffs and broader fears of a recession.

The U. S. President has been known to praise tariffs as an economic multitool. He has hyped April 2 as the date when he will impose widespread "reciprocal tariffs" on other countries that have their own duties on U. S. goods. The U. S. President's on-again, off-again tariffs on Canada and Mexico have inflamed tensions with both U. S. neighbors. But they have stoked special ire in Canada, where movements have sprung up to boycott U. S. products and political leaders have forcefully denounced the U. S. President's trade war. Former Canadian Prime Minister Justin Trudeau directly accused the U. S. President of trying to weaken his country in order to make it easier to "annex, " referring to the U. S. President's repeated calls to make Canada the 51st state. The U. S. President has connected his tariff plans and his Canadian statehood goal even more explicitly. "This cannot continue, " the U. S. President wrote. "The only thing that makes sense is for Canada to become our cherished Fifty First State. " "This would make all Tariffs, and everything else, totally disappear, " he wrote, while promising that Canadians' taxes would go down. "The artificial line of separation drawn many years ago will finally disappear, and we will have the safest and most beautiful Nation anywhere in the World, " he added. "And your brilliant anthem, 'O Canada, ' will continue to play, but now representing a GREAT and POWERFUL STATE within the greatest Nation that the World has ever seen! "

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