As the trade war heats up, Donald Trump boosts tariffs on Canadian steel and aluminum to 50%.

Trump claims that the higher tariffs, which are scheduled to go into effect on Wednesday, are a reaction to the price hikes that the Ontario provincial government imposed on power sold to the US. The ongoing trade tensions between the United States and its northern neighbor, Canada, have further escalated since President Donald Trump announced plans to boost the tariffs on Canadian steel and aluminum imports from 25% to 50%. This action is perceived as a form of reprisal for Ontario's recent implementation of a tax on US-imported electricity. On Wednesday, the tariffs are scheduled to go into force.