US To Double Tariffs On Canadian Steel, Aluminum Imports

Update: On Tuesday afternoon, Ontario Premier Doug Ford agreed to suspend the 25% surcharge on electricity exports to the US, and will be meeting with White House officials on Thursday to discuss tariffs.

US President Donald Trump continues to push the envelop on tariffs, declaring on Tuesday morning that he has instructed his Secretary of Commerce to double the levy on Canadian steel and aluminum imports to 50%, effective Wednesday, March 12. A 25% tariff on international steel and aluminum imports is already set to go into effect on Wednesday.

This latest development is in response to Ontario’s 25% surcharge on electricity it sends to states, Trump said in a post on Truth Social.

In the post, he also called on Canada to “immediately drop” tariffs on US dairy products, as well as “other egregious, long time tariffs,” and threatened to “substantially increase” levies on auto products on April 2 if Canada does not oblige.

Circling back to the tariffs on steel and aluminum, some experts have warned of the potential drag on the Canadian economy, given that both materials are billion-dollar exports. Keeping things in perspective, RBC Economist Nathan Janzen pointed out in a February 11 report that “steel and aluminum together account for just about 0.5% of Canadian gross domestic product and jobs, and about 3% of Canadian exports.”

In any case, this marks the latest in the trade war between the US and Canada, the parameters of which are in constant flux. A 25% tariff on all Canadian imports to the US, as well as 10% tariff on energy products and critical minerals, was supposed to go into effect on February 1, however, that was pushed by Trump to March 4. Shortly thereafter, Trump suspended tariffs for goods that are CUSMA/USMCA-compliant after Canada retaliated with reciprocal tariffs on around $30-billion worth of American imports. April 2 is the new date to watch.

Trump has argued that Canada hasn’t done enough to curb the flow of fentanyl across the board, and has used that as justification for the sweeping 25% tariff.

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US To Double Tariffs On Canadian Steel, Aluminum Imports Effective Wednesday

The US is already imposing a 25% tariff on steel and aluminum, set to go into effect tomorrow, and that could be increased to 50% for Canadian imports.

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Bosa Properties recently acquired the Best Western Plus at 5411 Kingsway in Burnaby, as well as the adjacent parcel at 5367 Kingsway.

The Hudson's Bay Company has said it intends to sell some of its stores and leases as part of its restructuring.

Canada's oldest retailer, the Hudson's Bay Company, filed for and was granted CCAA creditor protection on March 7.