Summary
Ontario will impose a 25% surcharge on electricity exports to New York, Michigan, and Minnesota starting Monday in retaliation for Trump’s tariffs on Canadian goods.
Premier Doug Ford warned U.S. governors and vowed to maintain the surcharge until all tariffs are lifted.
Canada has already imposed $30 billion in retaliatory tariffs, with more planned.
Ford also threatened to cut power to the states by April and banned U.S. firms from bidding on Ontario contracts. A $100M SpaceX deal for rural internet was also scrapped in response.
Hold up - if there is already a 25% tariff - IE tax - on Canadian electricity, does that mean that there is now another 25% tax on that electricity?
And wouldn’t this have a slight compounding effect on the second us tariff?
Yes, but us postponed their tariffs another month.
Thing that sucks tho, is at this point it doesn’t matter if there’s tariffs or not, since people have started preparing as if there will be. Worse, tariffs get integrated into an economy and are next to impossible to un-do. God 45 is so stupid