President Trump escalated a trade war with “tariff abusers” Canada, dismissing the 25% electricity import surcharge charged on three USes.
“Despite the fact that Canada charges 250% to 390% tariffs on many of our produce, Ontario has announced a 25% extra charge for 'electricity'. I was furious at the true society Late Monday.
“Our tariffs are mutual, so we'll just get everything back on April 2nd,” Trump said his tariff plans will begin.
“Canada is a tariff abuser and has always been, but the US will no longer subsidize Canada,” he warned.
“We don't need your car, we don't need your wood, we don't do your energy, and soon, you will find it,” he warned.
Ontario Prime Minister Doug Ford slapped a 25% extra charge on Monday for energy exports to three Canadian province customers (New York, Michigan and Minnesota), saying “I won't be hesitant to shut down the electricity completely” if TIT-for-Tat continues between neighbors.
The move comes after Trump threatened last week to wipe out a 25% tariff on 10% tariff on all Canadian goods and energy imports.
The White House recently agreed to exempt vehicles and select goods from tariffs under existing trade agreements, but Ontario has made its price rise as planned.
New York Governors Kathy Hochul and Senator Chuck Schumer warned that the tariff war would ultimately lead to rising energy prices in the Imperial states, despite Canada importing only a small portion of New York's power.
An independent system operator in New York said the province imports just 3% of the power source from Ontario, and has enough production capacity to compensate for cutoffs or more expensive Canadian exports.
