The U.S.–Canada trade war.

On Tuesday, President Donald Trump threatened to double his planned tariffs on all Canadian steel and aluminum imports from 25% to 50%. Trump’s announcement followed Ontario Premier Doug Ford’s decision to impose a 25% surcharge on electricity the province supplies to 1.5 million American homes and businesses in response to Trump’s tariff threats. However, on Wednesday, Ford announced he would suspend the electricity surcharge after agreeing with U.S. Secretary of Commerce Howard Lutnick to discuss a renewed United States–Mexico–Canada Agreement (USMCA) on trade. The announcement prompted Trump to rescind his threat to double tariffs on Canadian steel and aluminum. 

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