{"id":37726,"date":"2025-03-12T11:36:14","date_gmt":"2025-03-12T11:36:14","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/03\/12\/president-trump-reconsiders-50-tariff-hike-as-ontario-pauses-energy-charge\/"},"modified":"2025-03-12T11:36:14","modified_gmt":"2025-03-12T11:36:14","slug":"president-trump-reconsiders-50-tariff-hike-as-ontario-pauses-energy-charge","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/03\/12\/president-trump-reconsiders-50-tariff-hike-as-ontario-pauses-energy-charge\/","title":{"rendered":"President Trump reconsiders 50% tariff hike as Ontario pauses energy charge"},"content":{"rendered":"
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The ongoing trade tension between the United States and Canada saw signs of easing on Tuesday after President Donald Trump suggested he may reconsider plans to double tariffs on Canadian steel and aluminum <\/a>following Ontario\u2019s decision to suspend a planned electricity surcharge on exports to the US.<\/p>\n

Trump\u2019s remarks came shortly after Ontario Premier Doug Ford and US Commerce Secretary Howard Lutnick announced plans to meet in Washington on Thursday. <\/p>\n

The two leaders described their earlier discussions as \u201cproductive,\u201d with Ford emphasizing the need to deescalate tensions. <\/p>\n

Ford acknowledged that \u201cthe temperature needs to come down,\u201d calling his decision to halt the electricity surcharge the right move under the circumstances.<\/p>\n

The on and off tariff war<\/h2>\n

Ontario Premier Doug Ford announced on Tuesday that his government would temporarily suspend the planned 25% surcharge on electricity exports to the United States. <\/p>\n

The decision follows a conversation with US Commerce Secretary Howard Lutnick, during which both sides agreed to resume trade talks. <\/p>\n

Ford described the discussion as productive and emphasized the importance of maintaining calm amid heightened trade tensions. <\/p>\n

The Ontario government\u2019s reversal came just hours after Trump announced on social media that he would double tariffs on Canadian metals and threatened steep levies on Canadian automobile parts starting April 2 if Ottawa did not drop tariffs on US dairy products and other goods. <\/p>\n

Trump claimed the automobile tariffs would effectively shut down Canada\u2019s auto manufacturing sector. <\/p>\n

He also repeated his view that Canada should become part of the US, which he argued would eliminate trade disputes altogether.<\/p>\n

Trump\u2019s remarks followed Canada\u2019s announcement that Mark Carney would soon take over as prime minister. <\/p>\n

Carney criticized the tariffs as \u201can attack on Canadian workers, families, and businesses\u201d and vowed to respond in a way that would \u201cmaximize impact in the US and minimize disruption in Canada.\u201d<\/p>\n

Trump’s tariffs stoke recession fears<\/h2>\n

Global financial markets have faced heightened volatility and geopolitical concerns following President Donald Trump\u2019s return to the White House, with economists cautioning that the US may be at risk of a recession<\/a>.<\/p>\n

In an interview on Fox News’ \u201cSunday Morning Futures,\u201d Trump avoided directly addressing the possibility of a downturn, saying, \u201cI hate to predict things like that. There is a period of transition because what we\u2019re doing is very big.\u201d<\/p>\n

Markets reacted negatively on Monday, with the Dow Jones Industrial Average sliding over 1,000 points, or 2.4%<\/a>. <\/p>\n

The S&P 500 dropped 2.8%, while the Nasdaq Composite declined 5% as major tech stocks faced significant losses.<\/p>\n

Despite concerns, Commerce Secretary Howard Lutnick downplayed recession fears. <\/p>\n

Speaking on NBC’s \u201cMeet the Press,\u201d Lutnick said Americans should \u201cabsolutely not\u201d expect a downturn, emphasizing Trump\u2019s reciprocal tariff strategy. <\/p>\n

\u201cThere\u2019s going to be no recession in America. \u2026 Global tariffs are going to come down because President Trump has said, \u2018You want to charge us 100%? We\u2019re going to charge you 100%,\u201d Lutnick stated.<\/p>\n<\/p>\n

The post President Trump reconsiders 50% tariff hike as Ontario pauses energy charge<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The ongoing trade tension between the United States and Canada saw signs of easing on Tuesday after President Donald Trump suggested he may reconsider plans to double tariffs on Canadian steel and aluminum following Ontario\u2019s decision to suspend a planned electricity surcharge on exports to the US. Trump\u2019s remarks came shortly after Ontario Premier Doug <\/p>\n","protected":false},"author":1,"featured_media":37727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-37726","post","type-post","status-publish","format-standard","has-post-thumbnail","category-investing"],"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/37726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=37726"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/37726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/37727"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=37726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=37726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=37726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}