Washington: President Donald Trumpon doubled his planned prices on all steel imports and aluminum products from Canada at 50% on Tuesday, in response to Ontario’s decision to place a 25% price on electricity exports to the United States.
Trump said in an article on his Truth social media platform that he had asked his trade secretary to add an additional 25% rate on Metals products that will come into force on Wednesday morning.
“In addition, Canada must immediately lower its price of anti-American farmers by 250% to 390% on various American dairy products, which has long been considered scandalous. I will soon declare a national emergency on electricity in the threatened area,” Trump wrote.
He also threatened to “considerably increase” prices on cars arriving in the United States on April 2 “if other flagrant and long-standing prices are not lowered by Canada”.
In an article on X sent after the last threat of Trump, Ontario Prime Minister Doug Ford – whose government hikes on electricity it generates for New York, Michigan and Minnesota State – said that he would not have fallen until all of Trump’s prices on Canadian imports in the United States was not “.
The last side of Trump on the prices has delivered another painful shock to the financial markets, the S&P 500 reference index sliding nearly 1.0% while investors fear that import taxes would increase American growth and inflation. The S & P / TSX composite index of the Toronto Stock Exchange. GSPTSE fell by about 0.5% and the Canadian dollar fell against the greenback.
25% wider samples from all steel and aluminum imported in the United States from anywhere should take effect on Wednesday.
These prices will apply to millions of tonnes of imports of steel and aluminum from Canada, Brazil, Mexico, South Korea and other countries that entered the franchise of American rights under the characteristics. Trump has promised that prices will be applied “without exception or exemptions” in a decision he hopes to help the American industries in difficulty.
Trump’s hyper-nomination on prices since taking according to January has shaken investors, consumers and businesses so that economists are more and more worried about causing a recession. On Tuesday, an investigation into small businesses showed a weakening of the feeling for a third consecutive month, fully eroding a confidence after the victory of the November 5 elections of Trump.
Reuters’ surveys on economists have shown risks for Mexican, Canadian and American economies accumulate in the midst of chaotic implementation of American prices that have created profound uncertainty for businesses and decision -makers. Surveys have shown that 70 of the 74 economists have been questioned across Canada, the United States and Mexico have judged that the risk of recession has increased and that the rising risks in the United States increased in particular.