President Donald Trump has stirred up more trade tension with Canada by announcing a 50 percent tariff increase on steel and aluminum imports. The move comes after Ontario Premier Doug Ford imposed a new tax on electricity supplied to three U.S. states.
However, Ford quickly backtracked on his decision after discussions with U.S. Commerce Secretary Howard Lutnick. Trump initially attributed the tariff increase to the tax and stated that the new measure would take effect on Wednesday, March 12.
The back-and-forth escalated market concerns, causing a drop in the stock market as investors grew uneasy about the potential economic fallout.
Trump also hinted at declaring a national emergency over electricity, while the Canadian government pushed back, calling the tariffs an attack on its workers.
For now, the trade dispute continues to unfold, with both sides signaling they may reconsider their positions.
Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.
