Ontario Suspends 25% Electricity Surcharge After Trump Reconsiders Doubling Tariffs

Ontario Premier Doug Ford announced a 25% surcharge on electricity exports to the United States, specifically targeting the states of Michigan, New York, and Minnesota. This move was a retaliation against President Donald Trump's imposition of a 25% tariff on Canadian steel and aluminum imports. In response to Ontario's surcharge, President Trump threatened to double the tariffs on Canadian steel and aluminum to 50%, escalating trade tensions between the two countries. He also reiterated his demands for Canada to reduce tariffs on U.S. dairy products. Following a conversation with U.S. Commerce Secretary Howard Lutnick, Premier Ford agreed to suspend the 25% surcharge on electricity exports. Ford announced plans to meet with Lutnick in Washington to discuss trade issues, signaling a willingness to negotiate. Subsequently, President Trump reconsidered his plan to double the tariffs on Canadian metals. The White House confirmed that the additional tariffs would not be implemented, easing fears of a further escalation in the trade dispute. Both countries appear to be taking steps toward resolving their trade differences.