President Donald Trump announced a 50% tariff on Canadian steel and aluminum imports, combining a 25% duty on metals with a 25% general tariff on all Canadian goods, effective March 12, 2025. The move escalates a trade dispute centered on Canada’s “anti-American farmer tariffs” of up to 390% on U.S. dairy products, which Trump called “outrageous” and demanded Ottawa immediately remove.
The tariffs on steel and aluminum aim to protect U.S. industries and address trade imbalances, according to the White House. A 25% duty on metals imports aligns with Trump’s broader trade strategy, while the additional 25% general tariff — tied to a national emergency declaration over drugs and immigration — creates a combined 50% rate for Canadian metal exports. Canadian Prime Minister Justin Trudeau condemned the measures as “unjustified,” vowing retaliatory actions.
Bitcoin price after the news.
Canada’s dairy tariffs, ranging from 250% to 390% on U.S. products exceeding quotas under the U.S.-Mexico-Canada Agreement (USMCA), have drawn sharp criticism from Trump. These tariffs, part of Canada’s supply management system, apply only when U.S. exports surpass agreed limits. However, U.S. dairy exports to Canada — valued at $1.14 billion in 2024 — have not typically hit quotas, rendering the high tariffs largely theoretical.
U.S. stocks after the news.
The USMCA, intended to expand market access, has instead fueled disputes. The U.S. accuses Canada of restricting dairy quotas for American exporters, reserving most access for domestic processors. A recent USMCA panel ruled some Canadian measures compliant, but the U.S. continues to push for reforms. Trump’s threat of reciprocal tariffs on Canadian dairy and lumber signals a hardening stance ahead of potential negotiations.
Trump’s Truth Social post (partial).
Economists warn the 50% metal tariffs could disrupt North American supply chains, raising costs for U.S. manufacturers. Canadian steel and aluminum exports to the U.S. totaled $35 billion annually pre-tariff, supporting industries like auto manufacturing. Meanwhile, U.S. dairy farmers, though not yet impacted by Canada’s high tariffs, fear future trade barriers as tensions escalate.
As of March 11, Trump delayed some tariffs on Mexico and Canada to April 2, 2025, but maintained pressure on dairy and steel. The looming trade war risks destabilizing bilateral relations, with Canada defending its policies as “fair and lawful.” The dispute underscores broader challenges in balancing protectionist agendas with integrated North American markets.
“The only thing that makes sense is for Canada to become our cherished Fifty First State,” Trump stated. “This would make all Tariffs, and everything else, totally disappear,” he added. Following Trump’s statement, all of the benchmark U.S. stock indices dropped against the U.S. dollar and bitcoin (BTC) dipped below the $80,000 mark, now trading for $79,506 per coin.
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