Tag Archives: trade wars

Canada’s Global News reports: Ontario “won’t back down” after U.S. President Donald Trump called for a further tariff hike in response to the province’s 25 per cent export tax on electricity. Premier Doug Ford delivered that remark in an interview with MSNBC Tuesday morning, within an hour after Trump said he’ll add an additional 25 per cent tariff to Canadian …

The CBC reports: Amid the patriotic chest-thumping and sincere efforts of Canadians to do right by their country in the face of the on-again, off-again U.S. tariffs, the humble little Maple Leaf has been working overtime. Perhaps nowhere more so than at the grocery store, where shelves are emblazoned with red maple leaves to indicate that certain products are, to …

The Washington Post reports: President Donald Trump said Tuesday that he had ordered a doubling of the tariff on Canadian steel and aluminum in response to Ontario Premier Doug Ford’s imposition of a new tax on electricity supplied to three U.S. states. Ford’s action was itself a response to Trump’s earlier tariff move. Trump also said without providing details that …

The Washington Post reports: Chinese tariffs on a wide array of U.S. agricultural products took effect Monday as Beijing remains defiant in the face of U.S. pressure — while urging Washington to come to the negotiating table. China’s decision to impose tariffs of up to 15 percent on products including corn, soybeans and beef starting Monday targets some of the …

The CBC reports: Ontario is imposing a 25 per cent surcharge on all U.S.-bound electricity, as part of its retaliatory measures against U.S. President Donald Trump’s tariffs on Canadian goods. Premier Doug Ford and Energy Minister Stephen Lecce detailed the new levy at a news conference Monday morning. Ontario provides electricity to roughly 1.5 million customers in the northern border …

Politico reports: Former Vice President Mike Pence is breaking with his former boss, criticizing the Trump administration’s tariffs strategy and calling for free trade to lower the cost of goods. Pence responded to comments from Secretary of the Treasury Scott Bessent defending the tariff policy despite the possibility of it causing economic disruptions. “Access to cheap goods is not the …

From the Wall Street Journal editorial board: President Trump delayed his Mexico-Canada tariffs again on Thursday—this time for another month. He’s treating the North American economy as a personal plaything, as markets gyrate with each presidential whim. It’s doubtful Mr. Trump even has the power to impose these tariffs, and we hope his afflatus gets a legal challenge. The Constitution …

The New York Times reports: President Trump said on Thursday that he would allow both Mexico and Canada to avoid tariffs on most exports to the United States for one month, saying he would exempt products that are traded under the rules of the U.S.-Mexico-Canada Agreement, the trade pact he signed in his first term. The move came a day …

CTV News reports: Ontario Premier Doug Ford says that the province will place a 25 per cent tariff on the electricity that it provides to 1.5 million homes and businesses in New York, Michigan and Minnesota as of Monday and could double the surcharge if the U.S. escalates its trade war with Canada. “Unfortunately, President Trump has attacked our country …

CNBC reports: It has been a week of retaliatory actions, warnings of price hikes from businesses and wild price swings in the markets. Investors and business leaders, on edge about an escalating trade war, continue to monitor fast-paced headlines from the Trump administration. President Donald Trump said he’s pausing tariffs for Mexican goods and services covered by the North American …

Reuters reports: U.S. retail gasoline prices are set to climb in the coming weeks as new tariffs imposed by the administration of President Donald Trump raise the cost of energy imports, according to traders and analysts. The outlook underscores an unintended consequence of Trump’s protectionist trade policies, which are meant to boost the U.S. economy but could instead lead to …

CBNC reports: Shoppers will likely see produce prices increase in the coming days due to President Donald Trump’s tariffs on Mexican imports, Target CEO Brian Cornell said Tuesday. Cornell said Target relies heavily on Mexican produce during the winter months, and the tariffs could force the company to raise prices on fruits and vegetables as soon as this week. “Those …

The Associated Press reports: Mexico President Claudia Sheinbaum said Tuesday that Mexico will respond to 25% tariffs imposed by the United States with its own retaliatory tariffs on U.S. goods. Sheinbaum said she will announce the products Mexico will target on Sunday in a public event in Mexico City’s central plaza, perhaps indicating Mexico still hopes to de-escalate the trade …

From the Wall Street Journal editorial board: President Trump likes to cite the stock market when it’s rising as a sign of his policy success, so what does he think about Monday’s plunge? The Dow Jones Industrial Average took a 650-point header after he announced that he’ll hit Mexico and Canada on Tuesday with 25% tariffs. Mr. Trump said at …

NPR reports: Canadian Prime Minister Justin Trudeau said Ottawa would impose immediate 25% tariffs on more than $20 billion worth of U.S. imports. Tariffs on an additional $86 billion worth of products will take effect in 21 days. “Our tariffs will remain in place until the U.S. trade action is withdrawn,” Trudeau said, adding his government was looking into non-tariff …

The Guardian reports: Donald Trump has ordered that swathes of America’s forests be felled for timber, evading rules to protect endangered species while doing so and raising the prospect of chainsaws razing some of the most ecologically important trees in the US. The president, in an executive order, has demanded an expansion in tree cutting across 280m acres (113m hectares) …

The Associated Press reports: President Donald Trump said Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth. “Tomorrow — tariffs 25% on Canada and 25% on Mexico. And that’ll start,” Trump told reporters in the Roosevelt …

The CBC reports: Newly re-elected Premier Doug Ford doubled down Monday on his threat to cut off electricity flowing from Ontario to several American states if the U.S. moves ahead with tariffs. “If they want to try to annihilate Ontario, I will do anything — including cutting off their energy — with a smile on my face,” Ford said during …

Bloomberg News reports: Impending tariffs on Canada and Mexico risk driving up US car prices by as much as $12,000, further squeezing consumers and wreaking havoc across the intricate web of automotive supply lines spanning the continent. The cost to build a crossover utility vehicle will rise by at least $4,000, while the increase would be three times that for …

The Guardian reports: Donald Trump’s commerce secretary, Howard Lutnick, said on Sunday that US tariffs on Canada and Mexico will go into effect on Tuesday, but the president would determine whether to stick with the planned 25% level. “That is a fluid situation,” Lutnick said. “There are going to be tariffs on Tuesday on Mexico and Canada. Exactly what they are, …