President Donald Trump announced today that he will double the tariffs on Canadian steel and aluminum imports starting Wednesday. That is a 50% tariff on steel and aluminum from Canada.
Canada is the largest exporter of steel and aluminum to the U.S.
Canada is the largest exporter of steel and aluminum to the U.S.
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The main point, it is U.S. companies that pay these tariffs. Those companies often pass the additional cost onto consumers by way of price hikes.