US President Donald Trump has announced that he will double the tariffs previously imposed on Canadian steel and aluminum imports, raising the total levies to 50%.
In the latest development of an escalating trade war, Trump indicated that this action is in retaliation for the 25% tariffs Ontario has placed on electricity supplied to northern US states.
He stated that his tariffs would take effect on Wednesday morning and that he would declare "a national emergency on electricity" in those states.
Trump further warned that if the tariffs, including those on agricultural products, are not lifted, he would increase taxes on the automotive industry, which he claimed could "essentially, permanently shut down the automobile manufacturing business in Canada."
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