Today, the media is reporting that the U.S. will raise tariffs on Canadian steel and aluminum imports by an additional 25%, bringing the total duties to 50%, effective tomorrow morning, Wednesday March 12.
It's reported that this is in response to Ontario's move to impose a 25% surcharge on electricity exported to the U.S. and despite today's news, Ontario Premier Doug Ford has advised they plan to keep their electricity surcharge in effect.
"Trump has not yet signed the formal paperwork to raise tariffs on Canada’s steel and aluminum, but the order is “in the works,” a senior administration official told CNBC on Tuesday."