March 12, 2025
Back & Forth
A 25% tariff on Canadian steel and aluminum will still apply from March 12th, along with imports from other U.S. trading partners. This follows discussions between Ontario Premier Doug Ford and U.S. Commerce Secretary Howard Lutnick.
Source: CNN
Mark Carney, Canada’s incoming Prime Minister, called the tariffs an attack on Canadian businesses, saying they would stay until the United States commits to fair trade.
Uncertainty Looms
Stock and crypto markets fell due to Trump’s tariff threats but rebounded slightly after news of Ontario backing off the electricity tax.
White House spokesperson Karoline Leavitt said the U.S. is in an “economic transition.” Senator Bill Hagerty expects the tariffs to stay in place, with uncertainty remaining over final policy decisions.
