WEAshington – President Donald Trump on Tuesday suspended the planned surplus on electricity sold to the United States, threatening to double their planned tariffs on steel and aluminum for Canada from 25% to 50%.
As a result, White House trade adviser Peter Navro said that the US president had withdrawn his steel and aluminum tariffs, although the federal government plans to put 25% tariff on all steel and aluminum imports on Wednesday.
Read more: What is a tariff and why is Trump in their favor?
The play won for Trump, but also expanded concerns about tariffs that have stopped the stock market and shaken the risks of recession. Tuesday’s growth and cooling in the ongoing trade war between the United States and Canada increases the increasing sense of uncertainty of how Trump’s tariff increase will affect the economy of the two countries.
Trump shocked the markets on Tuesday morning, saying that the increase in tariffs implemented on Wednesday, NT Natario responded to a 25% price hike placed on electricity sold to the United States.
Trump posted on Trump on Truth Social, “I have instructed my Commerce Secretary to add 50% additional 25% tariff to all steel and aluminum in all steel and aluminum coming from Canada to the United States.”
NT Natario’s Premier DG Ford said on Tuesday afternoon that US Commerce Secretary Howard Lootnik called him and agreed to remove the Ford Sarcharge. He said he was confident that the US on his plans for 50% tariffs on Canadian steel and aluminum. The President will also be standing.
“He has to bounce him against the President but I am confident that he will withdraw,” Ford said on Trump’s Steel and Aluminum Tariff’s threat. “In any way we will just roll. What we are going to do is a creative conversation. “
After the sale of the cruel stock market on Tuesday and further blow, there is pressure to show that Trump has a solid plan to grow the economy. So far the President has doubled the tariff and may point to Tuesday’s play as evidence that taxes on imports are a valuable negotiation, even if they can cause unrest in the stock market.
Trump on Tuesday suggested that tariffs are crucial for changing the US economy, regardless of the stock market’s giration.
US The President has made various revelations for his opposition to Canada. He has said that its 25% tariffs on all imports from Canada, some of which are suspended for one month, are about to put taxes tax on Fantanil smuggling and Dairy imports to Canada, which penalizes US farmers. He called on Canada to be part of the United States, which has angry with Canadian leaders.
“The only thing that makes sense is Canada to become our favorite fifty first state,” Trump posted on Tuesday. “All this will make tariffs, and everything else, will disappear completely.”
Stress between the United States and Canada
The upcoming Canadian Prime Minister Mark Carney said that after Trump threatened his country’s history of financial ruins, his government would replace the tariff until Americans are committed to respect and free trade.
Read more: How does Canada stick to the US economy
Carne, who was sworn in as Justin Trudeau’s replacement in the coming days, said Trump’s latest tariff is an attack on Canadian workers, families and businesses.
“My government will continue our tariffs until Americans show us respect and will not make a reliable, reliable commitment to free and fair trade,” Carne said in a statement.
Canadian officials are planning a revenge tariff in response to Trump’s specific steel and aluminum tariffs. It is expected to be announced on Wednesday.
Carne was referring to the earliest Billion Canadian (US $ 21 billion) of $ 30 billion, which has been applied to American orange juice, peanut butter, coffee, devices, footwear, cosmetics, motorcycles and some pulp and paper products.
Trump has also targeted Mexico with 25% tariffs due to drug trafficking and illegal immigration dissatisfaction, though he has suspended taxes on imports compatible with the 2020 USMCA trade agreement.
Asked if Mexico fears that the same 50% of the same tariff on steel and aluminum like Canada, President Claudia Shenb UM said, “No, we respect.”
Trump Participated in a Question and Answer Session Tuesday afternoon with the business roundtable, a trade association of ceos that he wooed during with 2024 campaign with the promise of Lower Corporate Tax Rates for domestic manufacturers. But with their tariffs on Canada, Mexico and China – Europe, Brazil, South Korea, pharmaceutical drugs, copper, lazy and computer chips, with more plans to come, will have extra tax extra.
In the last two weeks, the vote of the stock market confidence has put in connection with the import of politicians as a politician who understands the business based on its own experiences in real estate, media and marketing, and his enthusiasm between his brand and his brand.
“Tariff is having a very positive impact – they will have, and they are coming to them.” Trump asked the CEO to assemble more factories than import taxes would migrate to the United States.
Read more: As Trump’s threats for Canada will continue backfire
The recession concerns are on the rise
President Bill Clinton’s Treasury Secretary, Harvard University economist Larry Summers has put the downturn at 50-50. Investment Bank Goldum Sachs SC improved its growth forecast for this year. It has politely increased its possibility by 20% “because if the negative risks begin to look more serious then the White House is the option of changing the policy.”
Trump has tried to assure people that his tariff will “transition” a little bit of the economy, in which more companies will begin the process of relocating factories to the United States to avoid tariffs. But he placed alarms in an interview broadcast on Sunday in which he did not deny the potential recession.
The stock market slide continues
The promise of the next great matters did not remove the concern, with the recession of Trump, which welcomed his victory in November 2024 in November 2024 on Monday, the S&P 500 Stock Index 2.7%.
The Dow Jones Industrial Dyogic average lost 478 points, and the Nasdaq joint slipped 0.2%.
Trump has long been to follow the economic and political gauge on the stock market, just to see it in the past, as it has been determined so far to impose tariffs. When he won the election last year, he announced that he wanted his tenure to be on the election day instead of the inauguration of January 20, 2025, on November 6, 2025, so that he could be credited for the benefit of the post -election stock market.
Trump also repeatedly warned of economic freefol if he lost the election.
“If I do not win, you will have a 1929 style depression. Enjoy it, “Trump said at the August Gust rally in Pennsylvania.
Mexico City’s report contributed to the harmonious press author Fabiola Sanchez. Gillies reported from Toronto.
This story originally appeared on Time.com read the full story
