Overview

• Donald Trump announced a 50% tariff on Canadian steel and aluminum imports, up from 25%, effective March 12, citing Ontario's electricity export surtax to the U.S.
• The U.S. president threatened additional tariffs on Canadian automobiles starting April 2, claiming it could halt Canada's auto industry entirely.
• Trump suggested Canada join the U.S. as its 51st state, arguing it would eliminate tariffs and reduce Canadian taxes while enhancing security.
• Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford firmly rejected Trump's annexation proposal, emphasizing Canada's sovereignty and economic independence.
• Economic experts warn that the escalating trade tensions could harm both economies, with U.S. manufacturing reliant on Canadian steel and aluminum imports.