Topics: Donald Trump, News, US News, World News, Politics
In response to Ontario's newly-implemented tariff on electricity, US leader Donald Trump has declared he'll double his planned tariffs on steel and aluminium from Canada.
Last week, the President's administration hit goods from the North with a savage new 25 percent tariff, after which Canada retaliated by adding its own 25 percent tariffs onto $155b in US goods.
Outgoing Canadian PM Trudeau, 54, told press in a televised address of Trump's first move: "It’s not in my habit to agree with the Wall Street Journal, but Donald, they point out that even though you are a very smart guy, this a very dumb thing to do."
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The American leader has since told press he'll be escalating trade war once again, by increasing tariffs on goods from Canada from 25 to 30 per cent following Canada's retaliation.
According to PA, 78-year-old Trump confessed that the reasoning for the decision came from the rise in prices that the government of Ontario placed on electricity sold to the United States in retaliation to Trump's first move.
Posting on his own social media channel today (11 Mar), Trump penned: "I have instructed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, on all STEEL and ALUMINUM COMING INTO THE UNITED STATES FROM CANADA, ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD."
The post triggered the US stock market to promptly fall.
The update comes just hours after new Canadian president Mark Carney described America as a country that he 'could no longer trust' amid tensions over tariffs.
Speaking on Tuesday (10 Mar), the ex-Bank Of England boss addressed escalating tariff-related tensions during a bold speech, in which he accused Trump of 'attacking Canadian families'.
Carney also accused his US counter-part of planning to 'destroy the Canadian way of life', while describing his trade plans as one of the 'greatest crises of our lifetime'.
"There is someone who is trying to weaken our economy: Donald Trump," Carney began.
"Donald Trump has put unjustified tariffs on what we build, sell and how we make a living."
Elsewhere in Carney's address - prior to Trump's latest update -, the 59-year-old explained that he and his advisors will soon have to negotiate with Trump at the risk of the Republican introducing additional tariffs.
"The Canadian government has rightly retaliated with tariffs. We will keep our tariffs on until the Americans show us respect," Carney continued.
"We did not ask for this fight. But Canadians are always ready when someone else drops the gloves."
He added: "Make no mistake, Canada will win."
"We have made this the greatest country in the world and now our neighbours want to take us. No way," he went on.
Carney is yet to respond to Trump's tariff doubling.
