Ontario to suspend its 25% exp surcharge
Ontario Premier Doug Ford announced that he would “temporarily suspend” his 25% surcharge on electricity exports to three US states after a conversation with US Commerce Secretary Howard Lutnick.
This is reported by CNN.
“I agreed to temporarily suspend work, and we always have this tool in our toolbox until we reach an agreement,” Ford said, adding that the US, Canada and Mexico will discuss a renewed free trade agreement.
As a reminder, the province of Ontario has imposed tariffs on electricity for Minnesota, Michigan and New York. This decision was made in response to tariffs imposed by the US on imports from Canada.
In response, the US president ordered additional tariffs of 25-50% on all steel and aluminum from Canada.
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