Thanks for following alongside tonight as we introduced you the newest on Donald Trump’s commerce warfare with Canada.
All of it kicked up a gear this afternoon when the US president used Reality Social (the place else?) to announce he would double tariffs on Canadian metal and aluminium to 50% from tomorrow.
Inventory markets roiled and incoming Canadian prime minister Mark Carney hit again, elevating fears of additional instability.
However since then we have had hints from Trump that he won’t double the tariffs in spite of everything – and the top of a Canadian province that had imposed an electrical energy surcharge on exports to the US mentioned “cooler heads have to prevail” as he suspended the charge.
US shares have even regained some floor prior to now hour as buyers had been inspired by Ukraine’s settlement to a 30-day ceasefire with Russia.
Nonetheless, Trump’s blanket 25% tariffs on all metal imports into the US are nonetheless set to come back into power in a single day.
The UK had been hoping it is perhaps exempted, however our US correspondent Mark Stone is listening to that is not the case.
However whereas the EU has mentioned it is going to reciprocate, probably with tariffs on American merchandise like Harley-Davidson motorbikes, the UK is not going to.
“They’re selecting a unique path, to not antagonise Trump,” Stone says.
The hope is that down the road, this strategy may even see Trump decide to elevate tariffs on the UK.
We’ll be again with updates on Trump’s tariffs within the morning – within the meantime you possibly can learn our full story right here:
