Ontario Premier Doug Ford to speak amid U.S.-Canada trade war
Premier Doug Ford is once again threatening to cut off electricity exports to the United States amid an escalating trade war that will have significant impact on steel and autos.
Ontario Premier Doug Ford warned on Monday of cutting off electricity and critical minerals exports to the United States amid escalating trade tensions. Ahead of a news conference, Ford accused US President Donald Trump of declaring an "economic war" against Canada, comparing him unfavorably to Ronald Reagan. Ford stated that everything was on the table if the dispute worsened, adding that Canada should consider using oil and potash as leverage.
Canada and the US had previously concluded trade talks on Friday, with US imposing 50% tariffs on billions of dollars of Canadian goods, which Canada vowed to match dollar-for-dollar. The talks collapsed due to disagreements over tariffs on trucks, language rules, and restrictions on trade deals with other countries. Trump threatened further tariffs, suggesting increased levies on cars, trucks, automotive parts, and steel, responding to Canada's frustration over high tariffs on US farm products and a 60 billion dollar trade deficit.
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