Ontario Premier Doug Ford announced a 25% surcharge on electricity exports to the United States, targeting consumers in Michigan, Minnesota, and New York.
Mark Carney, former governor of the Bank of Canada and the Bank of England, has been elected as the new leader of Canada's Liberal Party, succeeding Justin Trudeau as Prime Minister.
Canadian Prime Minister Justin Trudeau announced that Canada will implement 25% tariffs on 155 billion Canadian dollars (approximately $107 billion USD) worth of U.S. goods.
Outgoing Canadian Prime Minister Justin Trudeau issued a warning Thursday, claiming American consumers will face higher costs if President Donald Trump proceeds with plans to impose 25% tariffs on Canadian imports. Trump told reporters in the Oval Office earlier in the day that he is prepared to enforce the tariffs starting February 1, citing concerns over illegal migration and fentanyl crossing the U.S. border via Canada and Mexico.
