Washington: US President Donald Trump on Tuesday announced a fast high tariff on Canadian steel and aluminum, while threatening to “shut down” its auto industry and said the best way to end the trade war was to absorb Washington’s ally in the United States.
Trump’s shocks came before the midnight deadline, which was to increase the rapid global trade invasive of the Republican with the levy on both metals.
On his true social platform, Trump said he would double 25% tariff on steel and aluminum for import of metals from Canada to 50%.
Killing Brazil, Mexico, United Arab Emirates and other countries, 25% levy is still due to kick for American trading partners.
The upcoming tariffs, which are currently allowed without exception, threaten to affect everything from electronics to vehicles and construction equipment-and manufacturers are scrambled to find cost-effective domestic suppliers.
The most aggressive action is Canada to face the most aggressive action, historically one of the United States close colleagues and top trading partners.
Ottawa has been closed in exceptionally bitter battle with Republican, facing constant threats on its sovereignty.
Canadian Prime Minister Mark Carney hit a faulty note on Sunday, stating that the Canadian is “always ready” if needed if someone is needed.
The source of a Canadian government told AFP On Tuesday that Ottawa would have to “answer” if Trump further carried the tariff forward on his goods.
Canada supplies American aluminum imports and 20% of US steel imports, referring to industry advisor I-Parthenon.
Emergency of electricity?
Trump said his supercharged tariffs were in response to 25% of the Canadian province of Ontario on electricity exports to three American states.
Trump said that he would declare an electricity national emergency in the area affected by price hike.
He also threatened, warning that he would not have fallen if he says “Agragius” cannadian tariffs, he would promote tariffs on cars from April 2.
This would be “essentially, permanently shut down the automobile construction business in Canada,” he said.
Trump vowed to have a mutual levy as soon as possible on 2 April to improper business practices by Washington.
Reacting to Trump’s announcement on MSNBC, Ontario Premier Doug Ford stated that the US President promised a proper response “on our country, on our country, on families, families, an unprotected attack on families.”
In his social media post on Tuesday, Trump said “the only thing that makes sense” is for Canada to join the United States as the 51st state.
“All this tariffs, and everything else, will disappear completely,” said Trump.
Costs and opportunities
Former US Treasury Secretary Larry Summers said on X that Trump’s tariff threats in Canada “would be a self-inspired wound for the US economy that we cannot tolerate, in a moment when the risk of recession is increasing.”
But if some companies were shattered for a harmful period of high production costs, others felt an opportunity.
Drew Greenblaut, owner of Baltimore -based metal product manufacturer Marlin Steel, said the levy coming on imported steel has already promoted its new orders.
“We only use American steel, so we are thrilled with tariffs,” he told AFP, saying that it helped them gain an edge over a competitor that used to use Chinese metal imports.
For Robert Acis, the expanded scope of the upcoming levy is a relief for the Robert Acis, whose firm makes the plaster netting.
Currently, their import wire -like business for manufacturing is facing additional tariff costs. But foreign manufactured products can enter the US market.
Along with covering a range of metal products prepared with upcoming levy, the Acis said that this level is a playground.
But the high import cost will be likely to wave through the economy.
A major American manufacturer of steel products warned that American steel prices would increase to match the cost of foreign goods.
The lack of supply also increases prices, creating objects like nails, for example, in the more expensive basic steel of their cost.
Buyers in industries like homebuilding will be spent more and consumers can pass the cost, making the houses less cheap.
