Trump doubles tariffs on Canadian metals, causing Ontario to back down on electricity price hikes

WASHINGTON (AP) — President Donald Trump said Tuesday that he would double his planned tariffs on steel and aluminum from 25% to 50% for Canada, a retaliation that prompted the provincial government of Ontario to back down on its planned surcharges on electricity sold to the United States. Tuesday’s escalation and retreat in the ongoing trade war between the United States and Canada only compounded the rising sense of uncertainty in terms of how Trump’s tariff hikes will play out. His spate of tax increases on imports and plans for more have roiled the stock market and stirred up recession…