UPDATE:
U.S. President Donald Trump says he is doubling his tariffs on steel and aluminum, which are set to come into force on Wednesday, to 50 per cent.
The move comes in retaliation to Ontario’s electricity tariffs, Trump wrote on Truth Social.
ORIGINAL STORY:
Industries that rely on steel and aluminum goods are bracing for a fresh wave of tariffs set to kick in tomorrow (Mar 12).
U.S. President Donald Trump is expected to follow through on his threat to impose 25 per cent tariffs on imports of those products.
Analysts and economists say tariffs will likely be felt profoundly by U.S. sectors that rely heavily on Canadian steel, like defence and auto manufacturing.
The tariffs are separate from the widespread ones enacted last week on Canadian and Mexican goods, some of which have been delayed.
The steel and aluminum tariffs would stack on top of the earlier ones.
(This report by The Canadian Press was first published March 11, 2025)
