President Donald Trump’s threat on Tuesday to double his scheduled steel and aluminum duties from 25% to 50% for Canada, led the Ontario provincial government to suspend the planned burdens on the electricity sold in the United States. As a result, White House Commerce Advisor Peter Navarro said the US president has suspended his decision to double duties on steel and aluminum, while the federal government is still planning to impose a 25% duty on all imports. Tuesday’s dramatic evolution brought a victory for Trump, but also raised concerns about the duties that have upset financial markets and intensifies the dangers of recession. The escalation and cooling in the ongoing trade war between the United States and Canada only increased the sense of uncertainty about how Trump’s duties will affect the economies of both countries. […]
Source: News Beast
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