Breaking

2 hours ago

Newsmax Stock Craters Nearly 50% After Sizzling IPO—But Valuation Still Tops New York Times, Other Media Peers

2 hours ago

Judge Dismissed Eric Adams Corruption Case ‘With Prejudice’—Denying Trump’s DOJ Request

3 hours ago

Sean Combs Sued For Human Trafficking By Man Who Says He Was Sexually Assaulted In 2015: Here Are All The Major Accusations Against Diddy

3 hours ago

Trump Approval Rating Tracker: Most Americans Reject Tariffs In ‘Liberation Day’ Poll

4 hours ago

These Cars—Chevrolet, Ford, Jeep And More—May Be More Expensive As Trump’s Auto Tariffs Take Effect Today

4 hours ago

Northern Lights Forecast Tonight: These 10 States May See Aurora Borealis As Geomagnetic Storm Nears

2 hours ago

Newsmax Stock Craters Nearly 50% After Sizzling IPO—But Valuation Still Tops New York Times, Other Media Peers","scope":{"topStory":{"index":1,"title":"Newsmax Stock Craters Nearly 50% After Sizzling IPO—But Valuation Still Tops New York Times, Other Media Peers","image":"https://specials-images.forbesimg.com/imageserve/67ed51a5147cf1096400ffd6/290x0.jpg?cropX1=0&cropX2=2299&cropY1=16&cropY2=1310","isHappeningNowArticle":true,"date":"2 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/02/newsmax-stock-craters-nearly-50-after-sizzling-ipo-but-valuation-still-tops-new-york-times-other-media-peers/"}},"id":"5n57aegfmmik00"},{"textContent":"

2 hours ago

Judge Dismissed Eric Adams Corruption Case ‘With Prejudice’—Denying Trump’s DOJ Request","scope":{"topStory":{"index":2,"title":"Judge Dismissed Eric Adams Corruption Case ‘With Prejudice’—Denying Trump’s DOJ Request","image":"https://specials-images.forbesimg.com/imageserve/67ed4d4687ca5de30a289fd9/290x0.jpg?cropX1=0&cropX2=1155&cropY1=0&cropY2=650","isHappeningNowArticle":true,"date":"2 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2025/04/02/judge-dismissed-eric-adams-corruption-case-with-prejudice-denying-trumps-doj-request/"}},"id":"f3718dbkra000"},{"textContent":"

3 hours ago

Sean Combs Sued For Human Trafficking By Man Who Says He Was Sexually Assaulted In 2015: Here Are All The Major Accusations Against Diddy","scope":{"topStory":{"index":3,"title":"Sean Combs Sued For Human Trafficking By Man Who Says He Was Sexually Assaulted In 2015: Here Are All The Major Accusations Against Diddy","image":"https://specials-images.forbesimg.com/imageserve/66e073cb10835a911cd923c8/290x0.jpg?cropX1=0&cropX2=3975&cropY1=0&cropY2=2235","isHappeningNowArticle":true,"date":"3 hours ago","uri":"https://www.forbes.com/sites/maryroeloffs/2025/04/02/all-major-allegations-against-sean-diddy-combs-rape-sexual-abuse-cassie-ventura-tony-buzbee-lil-rod/"}},"id":"5pjih11dqn1400"},{"textContent":"

3 hours ago

Trump Approval Rating Tracker: Most Americans Reject Tariffs In ‘Liberation Day’ Poll","scope":{"topStory":{"index":4,"title":"Trump Approval Rating Tracker: Most Americans Reject Tariffs In ‘Liberation Day’ Poll","image":"https://specials-images.forbesimg.com/imageserve/62499fdeb85d6719dc85cb1a/290x0.jpg","isHappeningNowArticle":true,"date":"3 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/02/trump-approval-rating-tracker-most-americans-reject-tariffs-in-liberation-day-poll/"}},"id":"bhemnm6i0cg000"},{"textContent":"

4 hours ago

These Cars—Chevrolet, Ford, Jeep And More—May Be More Expensive As Trump’s Auto Tariffs Take Effect Today","scope":{"topStory":{"index":5,"title":"These Cars—Chevrolet, Ford, Jeep And More—May Be More Expensive As Trump’s Auto Tariffs Take Effect Today","image":"https://specials-images.forbesimg.com/imageserve/67e6cee531a75fcb36d54545/290x0.jpg?cropX1=0&cropX2=2437&cropY1=138&cropY2=1509","isHappeningNowArticle":true,"date":"4 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2025/04/02/these-cars-chevrolet-ford-jeep-and-more-may-be-more-expensive-as-trumps-auto-tariffs-take-effect-today/"}},"id":"54j032nnhpoo00"},{"textContent":"

4 hours ago

Northern Lights Forecast Tonight: These 10 States May See Aurora Borealis As Geomagnetic Storm Nears","scope":{"topStory":{"index":6,"title":"Northern Lights Forecast Tonight: These 10 States May See Aurora Borealis As Geomagnetic Storm Nears","image":"https://specials-images.forbesimg.com/imageserve/67ed2fc47bc716f80aa22d86/290x0.jpg?cropX1=0&cropX2=2360&cropY1=121&cropY2=1447","isHappeningNowArticle":true,"date":"4 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2025/04/02/northern-lights-forecast-tonight-these-10-states-may-see-aurora-borealis-as-geomagnetic-storm-nears/"}},"id":"eear5n45o08000"},{"textContent":"

4 hours ago

Here’s What To Know About ‘Liberation Day’—From Announcement Time To What Trump May Target","scope":{"topStory":{"index":7,"title":"Here’s What To Know About ‘Liberation Day’—From Announcement Time To What Trump May Target","image":"https://specials-images.forbesimg.com/imageserve/67ebdf0a776f957aefce7a32/290x0.jpg?cropX1=515&cropX2=3110&cropY1=1&cropY2=1462","isHappeningNowArticle":true,"date":"4 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/02/heres-what-to-know-about-liberation-day-from-announcement-time-to-what-trump-may-target/"}},"id":"7q43ha401l4g00"},{"textContent":"

4 hours ago

Tesla Reports Worst Quarterly Vehicle Deliveries Since 2022—Evidence Of Elon Musk’s DOGE ‘Damage,’ Analyst Says","scope":{"topStory":{"index":8,"title":"Tesla Reports Worst Quarterly Vehicle Deliveries Since 2022—Evidence Of Elon Musk’s DOGE ‘Damage,’ Analyst Says","image":"https://specials-images.forbesimg.com/imageserve/67ec1399ab9079224ba76b9d/290x0.jpg?cropX1=0&cropX2=2457&cropY1=27&cropY2=1410","isHappeningNowArticle":true,"date":"4 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/02/tesla-reports-worst-quarterly-vehicle-deliveries-since-2022-down-13-from-last-year/"}},"id":"cefhn6e6g64000"},{"textContent":"

8 hours ago

Cory Booker Breaks Record With 25-Hour Speech Blasting Trump","scope":{"topStory":{"index":9,"title":"Cory Booker Breaks Record With 25-Hour Speech Blasting Trump","image":"https://specials-images.forbesimg.com/imageserve/67ec75bd534c6d2d7b2ac3f3/290x0.jpg?cropX1=0&cropX2=2100&cropY1=108&cropY2=1289","isHappeningNowArticle":true,"date":"8 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/04/02/cory-booker-breaks-record-with-25-hour-speech-blasting-trump-heres-why/"}},"id":"1g3qji95bf7o00"},{"textContent":"

11 hours ago

Musk Attacks Democrats, Claims ‘Corruption Of The Judiciary’ After Losing Wisconsin Supreme Court Race","scope":{"topStory":{"index":10,"title":"Musk Attacks Democrats, Claims ‘Corruption Of The Judiciary’ After Losing Wisconsin Supreme Court Race","image":"https://specials-images.forbesimg.com/imageserve/67eccf57dde841697e9dc2cb/290x0.jpg?cropX1=254&cropX2=952&cropY1=63&cropY2=456","isHappeningNowArticle":true,"date":"11 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2025/04/02/wisconsin-supreme-court-election-susan-crawford-beats-elon-musk-backed-brad-schimel/"}},"id":"3qdg6kccrfr000"},{"textContent":"

16 hours ago

Florida Special Elections: Republicans Win Gaetz And Waltz’s Seats","scope":{"topStory":{"index":11,"title":"Florida Special Elections: Republicans Win Gaetz And Waltz’s Seats","image":"https://specials-images.forbesimg.com/imageserve/67ec72b97e8fce0e90a2c37a/290x0.jpg?cropX1=0&cropX2=4134&cropY1=0&cropY2=2756","isHappeningNowArticle":true,"date":"16 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/04/01/florida-special-elections-republican-turnout-higher-than-democrats-as-polls-close/"}},"id":"487rl1cdkge400"},{"textContent":"

20 hours ago

Elon Musk’s PAC Gave $1 Million To College Republican Leader In Wisconsin Giveaway—Why That Might Not Be A Coincidence","scope":{"topStory":{"index":12,"title":"Elon Musk’s PAC Gave $1 Million To College Republican Leader In Wisconsin Giveaway—Why That Might Not Be A Coincidence","image":"https://specials-images.forbesimg.com/imageserve/67ec55bdef25b4af2f655d4b/290x0.jpg?cropX1=0&cropX2=673&cropY1=67&cropY2=446","isHappeningNowArticle":true,"date":"20 hours ago","uri":"https://www.forbes.com/sites/alisondurkee/2025/04/01/elon-musks-pac-gave-1-million-to-college-republican-leader-in-wisconsin-giveaway-why-that-might-not-be-a-coincidence/"}},"id":"c7nhepja3a8g00"},{"textContent":"

21 hours ago

White House Doubles Down On Erroneous Deportation Of Maryland Dad","scope":{"topStory":{"index":13,"title":"White House Doubles Down On Erroneous Deportation Of Maryland Dad","image":"https://specials-images.forbesimg.com/imageserve/67ec4b2d715438df038934f0/0x0.jpg","isHappeningNowArticle":true,"date":"21 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/white-house-doubles-down-on-erroneous-deportation-of-maryland-dad/"}},"id":"45k303c8g1c800"},{"textContent":"

21 hours ago

Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches","scope":{"topStory":{"index":14,"title":"Forbes Recession Tracker: Recession Odds Spike As Trump’s Tariff ‘Liberation Day’ Approaches","image":"https://specials-images.forbesimg.com/imageserve/67ea8b9eddb6c171bd36b99d/290x0.jpg?cropX1=222&cropX2=1048&cropY1=324&cropY2=788","isHappeningNowArticle":true,"date":"21 hours ago","uri":"https://www.forbes.com/sites/dereksaul/2025/04/01/forbes-recession-tracker-recession-odds-spike-as-trumps-tariff-liberation-day-approaches/"}},"id":"15j2cndop41q00"},{"textContent":"

21 hours ago

Newsmax More Valuable Than Fox After Shares Surge 180%","scope":{"topStory":{"index":15,"title":"Newsmax More Valuable Than Fox After Shares Surge 180%","image":"https://specials-images.forbesimg.com/imageserve/67ec32fcc1b31f6a56040aa2/290x0.jpg?cropX1=0&cropX2=4017&cropY1=0&cropY2=2259","isHappeningNowArticle":true,"date":"21 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2025/04/01/newsmax-shares-surge-150-after-volatile-ipo-as-market-cap-doubles/"}},"id":"aea8769ia5c000"},{"textContent":"

22 hours ago

Kennedy Fires Thousands Across Health Agencies: Food Regulation, HIV Prevention, Infectious Disease Offices All Affected","scope":{"topStory":{"index":16,"title":"Kennedy Fires Thousands Across Health Agencies: Food Regulation, HIV Prevention, Infectious Disease Offices All Affected","image":"https://specials-images.forbesimg.com/imageserve/62499fdeb85d6719dc85cb1a/290x0.jpg","isHappeningNowArticle":true,"date":"22 hours ago","uri":"https://www.forbes.com/sites/saradorn/2025/04/01/kennedy-fires-thousands-across-health-agencies-food-regulation-hiv-prevention-infectious-disease-offices-all-affected/"}},"id":"e7nej609h11800"},{"textContent":"

23 hours ago

Bill Gates’ Daughter Phoebe Launches Podcast Under Alex Cooper’s Unwell Network","scope":{"topStory":{"index":17,"title":"Bill Gates’ Daughter Phoebe Launches Podcast Under Alex Cooper’s Unwell Network","image":"https://specials-images.forbesimg.com/imageserve/67ec2ed8015f34e05a152858/290x0.jpg?cropX1=0&cropX2=3682&cropY1=103&cropY2=2176","isHappeningNowArticle":true,"date":"23 hours ago","uri":"https://www.forbes.com/sites/conormurray/2025/04/01/bill-gates-daughter-phoebe-launches-podcast-under-alex-coopers-unwell-network/"}},"id":"18i1010kme7o00"},{"textContent":"

23 hours ago

Americans Are Pulling Back On Travel Spending In 2025, New Data Shows","scope":{"topStory":{"index":18,"title":"Americans Are Pulling Back On Travel Spending In 2025, New Data Shows","image":"https://specials-images.forbesimg.com/imageserve/67ec010860b8c16390869ea0/290x0.jpg?cropX1=0&cropX2=4664&cropY1=0&cropY2=2626","isHappeningNowArticle":true,"date":"23 hours ago","uri":"https://www.forbes.com/sites/suzannerowankelleher/2025/04/01/americans-pulling-back-travel-spending-in-2025/"}},"id":"ckmba32m9h5400"},{"textContent":"

24 hours ago

Measles Outbreak: More Than 420 Cases In Texas As Colorado Reports First Infection Since 2023","scope":{"topStory":{"index":19,"title":"Measles Outbreak: More Than 420 Cases In Texas As Colorado Reports First Infection Since 2023","image":"https://specials-images.forbesimg.com/imageserve/67b8dc34f003eb75b733dff5/290x0.jpg?cropX1=0&cropX2=3039&cropY1=0&cropY2=2027","isHappeningNowArticle":true,"date":"24 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2025/04/01/measles-outbreak-more-than-420-cases-in-texas-as-colorado-reports-first-infection-since-2023/"}},"id":"9rqc9927dp1400"},{"textContent":"

+1 day ago

Attorney General Bondi Calls For Death Penalty Against Luigi Mangione","scope":{"topStory":{"index":20,"title":"Attorney General Bondi Calls For Death Penalty Against Luigi Mangione","image":"https://specials-images.forbesimg.com/imageserve/67ec0742d8e8e647a9432054/290x0.jpg?cropX1=0&cropX2=2789&cropY1=0&cropY2=1567","isHappeningNowArticle":true,"date":"+1 day ago","uri":"https://www.forbes.com/sites/mollybohannon/2025/04/01/attorney-general-bondi-calls-for-death-penalty-against-luigi-mangione/"}},"id":"64el004q63c800"},{"textContent":"

+1 day ago

Nike To Settle Sexual Discrimination Lawsuit Hanging Over Its Head Since 2018","scope":{"topStory":{"index":21,"title":"Nike To Settle Sexual Discrimination Lawsuit Hanging Over Its Head Since 2018","image":"https://specials-images.forbesimg.com/imageserve/67ebe6ceee2b02b8e7cd69e7/290x0.jpg?cropX1=0&cropX2=2472&cropY1=127&cropY2=1518","isHappeningNowArticle":true,"date":"+1 day ago","uri":"https://www.forbes.com/sites/pamdanziger/2025/04/01/nike-to-settle-sexual-discrimination-lawsuit-hanging-over-its-head-since-2018/"}},"id":"5dha63ego0e800"}],"breakpoints":[{"breakpoint":"@media all and (max-width: 767px)","config":{"enabled":false}},{"breakpoint":"@media all and (max-width: 768px)","config":{"inView":2,"slidesToScroll":1}},{"breakpoint":"@media all and (min-width: 1681px)","config":{"inView":6}}]};

Edit Story

Breaking

Trump Doubling Tariffs On Canadian Steel And Aluminum In Retaliation For Ontario Electricity Charges

Sara Dorn

Forbes Staff

Sara Dorn is a Forbes news reporter who covers politics.

Following

Mar 11, 2025,10:44am EDT

Updated Mar 11, 2025, 11:28am EDT

Topline

President Donald Trump said he would impose a 50% tariff on all Canadian steel and aluminum products Wednesday, doubling the planned global levy for the products and deepening the trade war with the U.S.’s northern neighbor.

President Donald Trump walks on the South Lawn of the White House after stepping off Marine One in ... More Washington, DC on March 9, 2025. (Photo by OLIVER CONTRERAS/AFP via Getty Images)

AFP via Getty Images

Key Facts

Trump announced on Truth Social Tuesday he would impose an additional 25% tariff on steel and aluminum imports for Canada—on top of the 25% already planned for global steel and aluminum—in retaliation for Ontario’s 25% charge on electricity imports.

He also said he would declare a “National Emergency on Electricity within the threatened area,” which primarily impacts Minnesota, Michigan and New York, writing that it “will allow the U.S. to quickly do what has to be done to alleviate this abusive threat from Canada.”

Trump threatened to “substantially increase” tariffs on cars from Canada on April 2—when a wave of global reciprocal tariffs on imports to the U.S. is set to take effect—if Canada does not eliminate “other egregious, longtime tariffs,” warning it would “essentially, permanently shut down the automobile manufacturing business in Canada.”

Trump on Tuesday also reiterated his call for Canada to remove tariffs on imports of American dairy products—which range from 241% for fluid milk to 299% for butter, according to Politifact—after threatening Friday to target Canadian lumber and dairy products with “the exact same tariff unless they drop it.”

Trump alleged the U.S. is “subsidizing Canada to the tune of more than 200 Billion Dollars a year,” reupping his call for Canada to become the 51st state—an idea Canadian politicians have universally rejected.

Tangent

Ontario Premier Doug Ford imposed the 25% electricity surcharge Monday and said it would stay in place until Trump retracts new tariffs and his threats of additional tariffs. Ontario provides electricity to about 1.5 million homes and businesses in the three states, Ford said. Ontario also pulled U.S. liquor from its shelves, cancelled a $100 million contract with Elon Musk’s Starlink and banned U.S. companies from obtaining government procurement contracts.

What To Watch For

Trump announced on Feb. 10 a 25% tariff on all steel and aluminum imports from U.S. trading partners that’s set to take effect Wednesday.

Key Background

Trump on Thursday partially delayed a 25% tariff on goods for Mexico and Canada imposed March 4 until April 2, when a wave of global reciprocal tariffs are set to take effect. The delay applies to goods covered under the United States-Mexico-Canada Agreement. Trump initially said he would impose the tariffs because the countries have not done enough to stave the flow of fentanyl, though he’s since raised numerous other issues with Canada as the trade war between the two countries has deepened. Canada announced a 25% tariff on $20.7 billion USD worth of U.S. goods that officials said would stay in place despite Trump’s decision to delay the taxes for a month, though Canada cancelled a second round of retaliatory tariffs that would have taken effect three weeks later. Trump’s tariffs, coupled with his refusal to rule out the possibility of a recession in a Fox News interview aired Sunday, triggered a stock market selloff Monday, when the S&P and Nasdaq closed at their lowest respective levels since mid September, and the Dow ended at its lowest price since September.

Trump Doubling Tariffs On Canadian Steel And Aluminum In Retaliation For Ontario Electricity Charges

Topline

Key Facts

Tangent

What To Watch For

Key Background

Further Reading

Join The Conversation

Forbes Community Guidelines