Trade War with Canada

SOURCE www.cnbc.com
President Donald Trump orders additional 25% tariffs on Canadian steel and aluminum imports in response to Ontario's 25% tax on electricity exports to the U.S. Trump calls for Canada to be absorbed into the U.S. as the 'Fifty First State.' Trump warns of further tariffs on Canada if certain tariffs are not lifted.

Key Points

  • Trump orders additional tariffs on Canadian steel and aluminum imports
  • Response to Ontario's 25% tax on electricity exports to the U.S.
  • Threatens further tariffs on Canada if certain tariffs are not lifted

Pros

  • Protecting U.S. steel and aluminum industries
  • Putting pressure on Canada to renegotiate trade deals

Cons

  • Risk of escalating trade tensions between U.S. and Canada
  • Potential negative impact on U.S.-Canada relations