Overview

• Ontario Premier Doug Ford imposed and quickly rescinded a 25% electricity tariff on exports to New York, Michigan, and Minnesota in response to U.S. steel and aluminum tariffs.
• The tariff reversal came after President Trump threatened to double tariffs on Canadian steel and aluminum to 50%, which would have taken effect the next day.
• Ford apologized to Americans during a radio interview, emphasizing the importance of U.S.-Canada cooperation and describing his subsequent talks with U.S. Commerce Secretary Howard Lutnick as 'productive.'
• The electricity surcharge, if implemented, would have affected approximately 1.5 million U.S. homes and businesses, potentially increasing monthly bills by $100, according to Ford.
• Ford and Lutnick are scheduled to meet in Washington, D.C., to negotiate a resolution before the April 2 deadline, with both sides signaling a willingness to avoid further escalation.