Trump Doubles Steel Tariffs: Canada Faces $7 Billion Trade War?

Trump's Steel Tariff Hike: A $7 Billion Blow to Canada? U.S. President Donald Trump's announcement to double tariffs on steel imports to 50% sent shockwaves through Canada's steel industry. Last year alone, Canada exported over $7 billion worth of steel to the U.S., making this decision a potential economic crisis. Erin Collins, a CBC News correspondent, sheds light on the situation, stating, "With tariffs ramping up to 50%, it's a huge deal in Canada." This increase is distinct from tariffs previously ruled illegal by a U.S. trade court, adding complexity to the issue. The potential impact on Canadian steel producers and the broader economy remains a significant concern.