Author: Emma De Ruiter
Published on: 11/03/2025 | 00:00:00
AI Summary:
US President Donald Trump plans to double planned tariffs on steel and aluminium from 25% to 50%. In a post on his social media platform Truth Social, he said the tariffs are set to take effect on Wednesday. He said the decision is a response to the price increases that the provincial government put on electricity sold to the United States. Trump condemns the use of electricity as a bargaining chip and threat. Canada will pay a financial price for this so big that it will be read about in History Books for many years to come. Mexico has also been targeted with 25% tariffs because of the president’s dissatisfaction. S&P 500 stock index tumbling 2.7% on Monday in unmistakable “Trump slump” the S&p 500 index has erased market gains that greeted his victory in November 2024.
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