Trump Doubles Tariffs on Canadian Aluminum and Steel in Major Trade War Escalation

By Evans Momodu
Published 14: 59 UK GMT

In a significant development, former U.S. President Donald Trump has announced that tariffs on Canadian aluminum and steel will double starting tomorrow.

This decision marks a sharp escalation in the ongoing trade dispute between the United States and Canada, potentially impacting key industries and supply chains across both nations.

Trump's latest tariff hike is expected to put increased financial pressure on Canadian metal producers, leading to potential cost hikes for U.S. manufacturers relying on imported raw materials.

The move has drawn strong reactions from trade analysts and business leaders, with concerns about rising production costs and the broader economic implications of intensified tariffs.

The U.S. and Canada have had a long history of trade tensions over aluminum and steel, with previous disputes leading to retaliatory measures.

Industry experts warn that this latest escalation could trigger countermeasures from Canada, further straining diplomatic and economic relations between the two neighbouring countries.

With the trade war heating up and new tariffs taking effect, businesses and consumers alike should brace for potential market fluctuations and price increases in the aluminum and steel sectors. Stay tuned for further updates on this evolving trade conflict.
Source: Sky news
Image: CBC