U.S. President Donald Trump signed an executive order on Tuesday, doubling tariffs on steel and aluminum imports to 50 percent, effective at midnight. The order states that previous tariffs were insufficient to support the U.S. industry and national defense needs. This move is expected to have 'unrecoverable consequences' for Canadian steel and aluminum producers, prompting Canada to strengthen its domestic economy and consider retaliation.
Trump signs order to double steel and aluminum tariffs at midnight
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TL;DR: Key points with love ❤️U.S. President Donald Trump signed an executive order on Tuesday, doubling tariffs on steel and aluminum imports to 50 percent, effective at midnight. The order states that previous tariffs were insufficient to support the U.S. industry and national defense needs. This move is expected to have 'unrecoverable consequences' for Canadian steel and aluminum producers, prompting Canada to strengthen its domestic economy and consider retaliation.
Trending- 1 March 12: U.S. first imposed 25 percent tariffs on steel and aluminum from Canada
- 2 Immediately after: Ottawa announced a plan to retaliate with tariffs on $29.8 billion worth of American goods
- 3 Monday: Industry Minister Mélanie Joly spoke in the House about strengthening Canada's domestic economy
- 4 Saturday: Catherine Cobden of CSPA issued a statement warning of negative consequences
- 5 Tuesday: U.S. President Donald Trump signed an executive order doubling tariffs to 50 percent
- 6 Midnight: The new tariff rate will take effect
- Expected to have 'unrecoverable consequences' for Canadian steel and aluminum industries
- Will create 'mass disruption and negative consequences' across the supply chain
- Canada plans to strengthen its domestic economy and defend against the injustice
- Deepens the threat against industries in Ontario and Quebec
What: U.S. President Donald Trump signed an executive order doubling tariffs on steel and aluminum imports to 50 percent.
When: Tuesday (order signed); midnight (new rate takes effect); March 12 (previous tariffs imposed).
Where: United States (White House); impacting industries in Canada (Ontario, Quebec).
Why: To provide greater support to the U.S. steel and aluminum industries and reduce the national security threat posed by imports, as previous tariffs were deemed not steep enough.
How: President Trump signed an executive order to increase the tariffs.