UNITED STATES: President Donald Trump said today that he will double his planned tariffs on steel and aluminum from 25 per cent to 50 per cent for Canada, escalating a trade war with the country’s northern neighbour.

President Trump posted to Truth Social that the increase of the tariffs set to take effect on Wednesday is a response to the price increases that the provincial government of Ontario put on electricity sold to the US.

The US stock market plummeted following the announcement.