Amidst rising trade tensions with the United States, King Charles received Canadian officials at Buckingham Palace, accepting a ceremonial sword from the Canadian Senate. The King expressed gratitude for the gesture and engaged in a 30-minute discussion covering significant national and international issues. This meeting, though pre-planned, holds symbolic weight given President Trump’s aggressive trade policies and past comments about Canada. The King’s actions demonstrate his continued support for Canada and his involvement in high-stakes diplomatic matters.
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Following a productive conversation between Ontario Premier Doug Ford and U.S. Commerce Secretary Howard Lutnick, the planned 25% electricity export surcharge to the U.S. has been temporarily suspended. This decision came after President Trump announced a doubling of tariffs on Canadian steel and aluminum, escalating existing trade tensions. A meeting is scheduled in Washington D.C. to renegotiate the USMCA. Despite the temporary reprieve on electricity, the White House confirmed that the original 25% tariff on steel and aluminum will proceed, with further tariffs on other Canadian goods to follow.
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Despite a partial delay of US tariffs on Canadian goods, Ontario Premier Doug Ford announced a 25% surcharge on electricity exports to three US states, threatening a complete shutdown if tariffs escalate. This retaliatory measure, while impacting American consumers with increased energy costs, also carries significant risks for Canada’s energy sector. Ford’s actions are a direct response to President Trump’s threatened tariffs on Canadian dairy and lumber, and further increases contingent on border security improvements. The escalating trade conflict highlights the potential for mutual harm in a full-blown trade war.
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In response to President Trump’s trade war, Ontario Premier Doug Ford announced a 25% electricity surcharge for 1.5 million American consumers in Minnesota, New York, and Michigan, generating an estimated $208,000-$277,000 CAD daily to support Ontario’s economy. This measure, despite a one-month tariff reprieve from the U.S., will remain in effect until all tariffs are removed, with Ford threatening a complete electricity shutdown if necessary. The surcharge adds approximately $69 CAD monthly to affected American bills and is in addition to Canada’s $21 billion in retaliatory tariffs. Ford also urged Alberta to impose an oil export tax, further escalating the trade conflict.
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Mark Carney, elected as Canada’s new prime minister, has vowed to confront Donald Trump’s trade policies, which he described as the “greatest crisis of our lifetime.” Carney strongly criticized Trump’s tariffs on Canadian goods, asserting that the US is no longer a trustworthy partner. His election comes amidst escalating trade tensions and a surge in Canadian nationalism, bolstering the Liberal Party’s position. Carney plans to retaliate against further US tariffs and pursue a strategy to strengthen Canada’s economy.
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In response to U.S. tariffs on Canadian goods, Ontario Premier Doug Ford announced a 25% surcharge on electricity exports to Minnesota, Michigan, and New York, impacting 1.5 million American customers. This retaliatory measure, effective Monday, follows warnings to the affected states’ governors and reflects Ontario’s firm stance against the tariffs. Premier Ford expressed regret for the surcharge but emphasized the need for the U.S. to remove all tariffs and renegotiate the USMCA. He further highlighted the significant economic uncertainty and job losses resulting from the trade dispute.
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Brown-Forman CEO Lawson Whiting described Canadian provinces’ removal of US liquor from shelves as a more damaging retaliatory measure than tariffs imposed by the Trump administration, despite Canada accounting for only 1% of the company’s sales. While Canada also levied a 25% tariff on US alcohol imports, Brown-Forman’s annual forecast accounts for these impacts, and the company’s stock rose 8% following the announcement. The company’s overall performance has been affected by decreased demand in the US, Canada, and Europe, although emerging markets show stronger sales. Despite these challenges and cost-cutting measures, Brown-Forman remains confident in its future prospects.
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A senior Canadian official stated that Prime Minister Trudeau will not lift Canada’s retaliatory tariffs unless the U.S. removes all its tariffs on Canadian goods. This rejects a proposed “middle ground” settlement suggested by U.S. Commerce Secretary Lutnick. The official did not address potential partial tariff reductions. The U.S. imposed a 25% tariff on most Canadian imports, while Canada responded with tariffs on $30 billion in U.S. goods, with further increases planned. Trudeau has vehemently rejected the U.S.’s justification for the tariffs, citing the minimal amount of fentanyl trafficked across the border.
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In response to President Trump’s tariffs on Canadian goods, Ontario Premier Doug Ford announced several retaliatory measures. These include cancelling a $100 million contract with Starlink, banning U.S. companies from provincial procurement contracts, and threatening a 25 percent surcharge on electricity exports to border states. Furthermore, the province’s liquor retailer, the LCBO, will cease purchasing American alcohol. These actions are in addition to the federal government’s own retaliatory tariffs on U.S. goods.
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John Q. Hosedrinker