March 12th, 2025: Trump Slaps New Tariffs On Canada & Security Clearance Crackdown
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What are the latest tariffs imposed by Trump on Canada?
It's Wednesday, March 12th. Welcome to the President's Daily Brief. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. First up, the trade war between the US and Canada heats up, with President Trump threatening massive tariffs on Canadian steel and aluminum, after the governor of Ontario announced electricity surcharges for American customers. I'll have the latest. Later in the show, just months after Israel's invasion of Lebanon, a breakthrough. Israel and Lebanon are set to negotiate their land border for the first time in years. Plus, the Trump administration announces that it's once again pulling security clearances from former Biden officials. And in today's Back of the Brief, the Department of Homeland Security is launching a new Customs and Border Patrol, or CBP, app with a self-deport feature. But first, today's PDB Spotlight.
What led to the trade war escalation with Canada?
We'll begin with an update on the North American trade war, as President Trump sent markets tumbling on Tuesday after announcing new retaliatory tariffs on Canada, only to pump the brakes again on the new duties just hours later. It was another day of back and forth announcements from the White House, which began when President Trump declared his intent to slap a 50 percent tariff on imports of Canadian steel and aluminum, doubling a previously announced 25 percent tariff on the products set to take effect on Wednesday. Trump announced the retaliatory measure after Ontario Premier Doug Ford imposed a 25% tax on electricity exports to the U.S. on Monday. That's according to a report from CNN. It appeared the trade war was set for an extraordinary escalation, threatening to further royal markets that are, well, frankly, already in turmoil.
Earlier on Tuesday, Trump took to Truth Social, calling the electricity tariff, quote, outrageous. In addition to imposing a 50% tariff on Canadian steel and aluminum, Trump vowed to target Canadian electricity with a 25% tariff and impose new taxes aimed at crippling the Canadian auto industry. He added that the only solution to the trade crisis was for Canada to become the 51st state. But after several tense hours, both sides decided to keep their powder dry and back down from the economic threats, at least for now. U.S. Commerce Secretary Howard Lutnick and Ontario Premier Ford issued a joint statement Tuesday afternoon, saying they would meet on Thursday in Washington to renegotiate aspects of the current North American Free Trade Treaty, known as the United States-Mexico-Canada Agreement, or USMCA.
In the meantime, Ontario agreed to suspend its 25% surcharge on electricity exports, while White House Trade Advisor Peter Navarro confirmed that Trump's 50% retaliatory tariffs on steel and aluminum would be shelved. Are you following me so far? Critically, however, the previously planned 25% tariff on steel and aluminum from Canada and all other U.S. trading partners will still go into effect today. Addressing the chaotic events, a White House spokesman said, President Trump has once again used the leverage of the American economy to deliver a win for the American people, end quote. Okay. Still, trade tensions remain high between the U.S. and Canada, and jittery investors are anticipating further chaos despite the temporary reprieve.
The Canadian government has still promised to retaliate against the previously announced 25% tariff on global steel and aluminum, though it's not clear what their next move will be. It's impossible to keep score here, isn't it? Trump, meanwhile, threatened more levies on Canadian exports in the near future. if they don't lift various tariffs on U.S. dairy and agricultural products. Trump said Tuesday, "...if other egregious long-time tariffs are not likewise dropped by Canada, I will substantially increase on April 2nd the tariffs on cars coming into the U.S., which will essentially permanently shut down the automobile manufacturing business in Canada." As I mentioned, Trump also reiterated his invitation for Canada to become the 51st state, saying the tariff issue would vanish overnight if they agreed to be absorbed into the U.S. Almost made it. Canadian leaders, as you can imagine, are not pleased. That's putting it mildly in a diplomatic fashion.
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