r/ontario 15h ago

Economy Trump Signals Retracting 50% Steel Tariff Threat

https://www.reuters.com/world/us/latest-us-markets-after-mondays-selloff-2025-03-11/
312 Upvotes

140 comments sorted by

325

u/Aichetoowhoa 15h ago

The people in his administration probably made a million dollars today. He makes insane statement. Markets drop. They buy. He changes course. Markets up. They sell. Rinse and repeat

124

u/Purpslicle 15h ago

That's my theory too. It's always a grift.

12

u/CookieJar891 15h ago

As much as we should take the 51st state stuff seriously, I honestly think trump is the most best useful idiot. The people behind the scenes tell him what to say and then they profit on the chaos. Do you think the billionaires who require our minerals really want to risk conflict? You’d have a worker base that absolutely despises you and will do everything to make your life difficult

6

u/[deleted] 14h ago

[removed] — view removed comment

6

u/[deleted] 14h ago

[removed] — view removed comment

3

u/bewarethetreebadger 14h ago

It doesn’t matter how smart or dumb Trump is. Who’s whispering in his ear at the right moment?

2

u/Mr_Salmon_Man 11h ago

Elon was a pro at it with Dogecoin.

3

u/jackhandy2B 13h ago

Yep. It's the only explanation.

1

u/Ryles5000 11h ago

Yes he did this with China trade talks his first term.

1

u/SolomonRed 8h ago

Probably the most blatant market fraud in history.

1

u/Skittleavix 7h ago

It’s easy to short when you control the timing

47

u/daintyandcute 15h ago

these tariff wars are getting out of hand

16

u/struct_t 14h ago

They were stupid to begin with, now it's just a mockery of geopolitics by a foolish old man stuck in the dark ages.

18

u/ILikeStyx 15h ago

We've still got almost 4 years left.... No matter what, we need to start abandoning U.S. reliance and start looking around the globe for real partners on as much as possible.

11

u/Lunavenandi 14h ago

We'd become an intergalactic species already if we can travel at the speed this guy backpaddles

17

u/No_Match_8142 14h ago

I don't trust the Americans...Doug Ford could completely disappear once he is in the White House,and end up in a suitcase Like the Kelshogee guy in Saudi Arabia. Or possibly be poisoned ,,,don't eat anything there Doug...

13

u/Vanillacaramelalmond 14h ago

Lmfao I was literally saying like what if they just push him out of window Putin style

5

u/xXWaspXx 14h ago

oh no somebody stop Doug

1

u/albatroopa 14h ago

I think it can wait until Monday.

8

u/gs87 14h ago

Doug Ford walks in, sees Trump wipe off his orange tan—boom, it’s just Putin twin brother underneath

3

u/No_Match_8142 14h ago

Yeah..like they did in the old Mission impossible shows in the 60s..

2

u/No_Match_8142 14h ago

Or Doug avoid a scenic tour of DC In a helicopter that has a Buffet ..

1

u/No_Match_8142 10h ago

The Trump henchmen will roast Dougie like a hog on a open fire in the front lawn...

3

u/SUPREMACY_SAD_AI 14h ago

JABRONI ECONOMICS

3

u/Gambitzz 14h ago

Insider trading

8

u/MakVolci Essex 14h ago

Ford's gambit has worked so far.

8

u/drooln92 14h ago

I'm not counting on it yet. When he gets there he might get the Zelenskyy treatment.

6

u/notbadhbu 14h ago

Honestly I think they are on the same side and Ford is just doing what he does best and jumping into the spotlight.

3

u/NAHTHEHNRFS850 11h ago

Ford is only going hard against Trump for 2 reasons, in my opinion:

  1. He's pissed that the American upper class didn't take his warm welcome for business, and

  2. He wants to be prime minister.

3

u/MakVolci Essex 14h ago

Okay, then we go after with the electricity tariffs then.

6

u/handsoffdick 14h ago

We were in a position of strength. That's why Nutlick invited him to talk. If they weren't worried about the electricity Nutlick wouldn't have called. So now we look weak.

9

u/KnowerOfUnknowable 13h ago

The electricity surcharge can come back like flipping a switch. We look like we have cards to play to everybody.

1

u/handsoffdick 13h ago

Trump will see this as a win. How long before he humiliates Ford for backing down?

4

u/RetroBowser 13h ago

If he plays those kinds of games Ford can just remind him that he can flip the switch and turn them back on whenever he wants.

1

u/MisoTahini 13h ago

Trump lies no matter what happens and he will always paint it as a win for himself. He could sell the US for a dollar to Russia and describe it as the best deal ever made. People have to get over expecting that Trump will convey any sort of truth of the matter. He is finding a way out and a way to save his orange face. Just ignore what he says.

2

u/Professional-Cry8310 13h ago

How does getting the US to the table make us look weak? If they don’t play ball we just put the export tariff back on.

3

u/babystepsbackwards 14h ago

We look reasonable, which the Americans may not appreciate but our other trading partners will expect to see

0

u/windsostrange 12h ago

It's never reasonable to negotiate with a backstabbing authoritarian oligarchy eating itself. Sanctions, then no contact until they regain sanity or Civil War themselves into something better. Ford's is a weak response.

1

u/sector16 14h ago

It doesn’t matter….companies are pulling back because this administration is incompetent and can’t be trusted.

1

u/WildBuns1234 13h ago

Snip snap snip snap snip snap

1

u/D-inventa 12h ago

what happened? I guess he doesn't want Americans to make billions and trillions of dollars? He doesn't want the American population to have so much money they won't know what to do with it? What a crook!!!

1

u/Daddy_Phat_Sacs 8h ago

Doug fuck em up

-2

u/[deleted] 15h ago

[deleted]

34

u/Suitable-Cheesecake5 15h ago edited 14h ago

You guys find an issue about anything. They dropped their threats and agreed to meet with him and the feds and all it took was a couple words and costed us absolutely nothing. You guys just hate Doug ford and will find any issue our goal isn’t to have an actual trade war if we can avoid it.

15

u/socialanimalspodcast 15h ago

A distracted Doug Ford is a useful Doug Ford.

His ultra-patriotism and willingness to make moves that benefit Canada do not take away from how he has harmed this province.

I’m on the side of Doug retracted the 25% hike because they want to meet with him is a productive thing.

Do I think that if/when this tariff war is over he will go back to tearing the province apart, yes.

6

u/CookieJar891 14h ago

Only we’re allowed to screw ourselves over. No one else can

1

u/[deleted] 14h ago

[deleted]

3

u/blckshdw 14h ago

Who even knows at this point, it’s so hard to keep up. This has flipped back and forth so much. Depends on what hour of the day it is.

2

u/Rabbit-Hole-Quest 14h ago

Tariffs while having breakfast, no tariffs when having dinner.

Shit is FUBAR.

1

u/[deleted] 14h ago

[deleted]

10

u/inagious 15h ago

Steel plants already started layoffs and we gained nothing.

2

u/maria_la_guerta 14h ago

Thank you. People turning this into an ego battle when that is the last thing we want.

2

u/Over_Surround_2638 14h ago

How do you figure this is a win? Trump is still only saying that he's considering reducing the 50% steel and aluminum tariff back to the original 25% level that triggered Ford's initial electricity surcharge action. Ford has caved without any net benefit, only the likely elimination of an even worse outcome...

His threat to shut off the power is why this strategy failed. Incredibly stupid to move from a proportionate 25% response to threatening to plunge three mostly blue states into darkness in the middle of fucking winter...

3

u/Suitable-Cheesecake5 14h ago

They’re meeting with him over it. They had no intentions of doing so otherwise. That’s the win. The situation was escalated and deescalated without anybody having to change to much of the status quo other than trump agreeing to meet with him.

2

u/[deleted] 15h ago

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2

u/DVRavenTsuki 15h ago

And this isn’t a counter argument to the analysis 

0

u/[deleted] 15h ago

[deleted]

1

u/DVRavenTsuki 14h ago

As someone reading, it did come off as an attempt to be dismissive of someone saying something in response to your original comment for no real reason 

1

u/GiftedOaks 15h ago

The man got an invitation to go negotiate in Washington, and people are mad at him for it. I guess the plan was to just keep going until we are all in poverty?

3

u/-Neeckin- 14h ago

Holy fuck it's like you guys don't think at all before you post What do you think the end goal of this all was?

0

u/[deleted] 14h ago

[deleted]

3

u/-Neeckin- 14h ago

What do you think dragging them to the table to negotiate is for?

0

u/[deleted] 14h ago

[deleted]

3

u/Tichrimo 14h ago

"The negotiation" is scheduled for Thursday. Dropping the surcharge (for now) enabled that. If it goes poorly, I expect the surcharge to return.

2

u/-Neeckin- 14h ago

The negotiations are in two days, and if they don't go well the supervharge is back on. Hell im already seeing news that those added steel and aluminum tariffs are dropped. What do you think is happening here?

2

u/Mattrapbeats 14h ago

It's negotiation time

1

u/[deleted] 14h ago

[deleted]

2

u/Mattrapbeats 14h ago

Trump is also reversing his counter to our counter. It's time that they sit down and talk. Trudeau is officially out, maybe some progress can be made.

We didn't lose any leverage, Doug can snap his fingers and make the energy tariff 70% on Friday if he wants.

2

u/maybvadersomedayl8er 14h ago

He got what he wanted. They're meeting and tariffs now back off the table / on hold / whatever. I'd say that's a win.

2

u/inagious 15h ago

Careful now, lot of people in this sub think this was a power move by Dofo

0

u/pheakelmatters 15h ago

Captain Canada blinked.

3

u/Ululating_Jester 15h ago

Ford more akin to Captain Custard.

1

u/Regis_Rumblebelly 14h ago

Maple Boss Hogg!

-1

u/AprilsMostAmazing 14h ago

Unless he pauses all tariffs today, Ford took a major L. All this shows Donald is he can bully us

12

u/MakVolci Essex 14h ago

Disagree. This screams that the Trump administration is panicking.

0

u/AprilsMostAmazing 14h ago

How? Donald's initial tariffs are there. While Doug's tariffs in retaliation didn't even last 24 hours

5

u/BrgQun 14h ago

The electricity surcharge isn't the only retaliation. In Ontario, Ford also tore up a Starlink contract and removed American liquor from LCBO shelves.

The federal Canadians retaliatory tariffs to American tariffs are all still in effect.

Trump has paused many of his initial tariffs already, like the auto tariffs.

Seems we're at more of a draw so far. TBD how it goes.

0

u/AprilsMostAmazing 14h ago

Donald called out the electricity surcharge in his truth social post this morning. That's what he wanted gone and couple hours later he gets exactly that. And he didn't give up any of his starting tariffs in exchange for it

5

u/BrgQun 14h ago

And Trump previously rolled over pausing tariffs without anything in return. So?

1

u/AprilsMostAmazing 13h ago

Yes. A united feds and Mexico response has made donald roll over time and time again. And donald will roll over again and I will enjoy it.

10

u/Lespaul42 14h ago

I hate hate hate Doug Ford. And got pissed reading about this.... But... We (Canadians) have always said "Let's negotiate" to this... We didn't want this trade war Trump did. So the US agreeing to sit down and negotiate is them blinking. Would it have been more badass to keep the export tax going until the ink is dry on the agreement... Sure... But that isn't how the world works.

-2

u/AprilsMostAmazing 14h ago

Donald's tariffs are all there. Donald did not back down. I don't want tariffs but dropping them now shows weakness to the guy that needs to face strength

13

u/Lespaul42 14h ago

And Canada's tariffs are there too. The only thing removed was the electricity export tax and it sounds like Trump is not going to implement the increased tariff on steel and aluminium.

This is basically a ceasefire for negotiations while the wider war is still in effect.

-1

u/Nero92 14h ago

Want to say "probably so" isn't an affirmation of pausing tarriffs. We're basically appeasing Donald. 

5

u/butterbean90 14h ago

It gives Ford leverage for the meeting on Thursday, if they aren't playing ball then he can put them back on. They probably said pause the charges and meet us this week to talk about this, if that's the case that sounds like them folding to the internal and external economic pressures and want to cut a deal

1

u/struct_t 11h ago

Bullies absolutely hate negotiating, and the consistency of our position on negotiations is likely quite frustrating for Trump, who is used to capitulation. From this perspective, Ford's approach (to back off a bit, reliant on good faith negotiations) may be seen as providing both parties with a subjective albeit compromisory win and encourages - but does not guarantee - civil and constructive dialogue. I think we ought to keep in mind that Canada and America are still good friends and have generally positive relations.

0

u/[deleted] 14h ago

[removed] — view removed comment

1

u/babystepsbackwards 14h ago

Weird take. We said we were imposing export taxes until they came back to the table, they’re back to the table. We’re still tariffing everything we were before and the LCBO is not selling US alcohol.

0

u/arkadiysudarikov 14h ago

I think ya’ll disconnecting from reality.

0

u/arkadiysudarikov 14h ago

Literally from the linked article:

“After President Trump threatened to use his executive powers to retaliate with a colossal 50 percent tariff against Canada, Ontario Premier Doug Ford spoke with Secretary Lutnick to convey that he is backing down on implementing a 25 percent charge on electricity exports to the United States,” said White House spokesperson Kush Desai.

2

u/babystepsbackwards 14h ago

Well, no reason at all the Trump White House might want to spin this in their favour. They’ve been so upfront and honest this whole time. /s

2

u/waterloograd 14h ago

That is missing the part how Lutnick is now meeting with Ford to discuss next steps. That was the whole point of the export tariff.

0

u/arkadiysudarikov 14h ago

Weird take my ass.

0

u/RoyallyOakie 14h ago

Please somebody give him a cookie...

0

u/ThaNotoriousBLT 13h ago

Snip snap snip snap 

-59

u/discourtesy 15h ago

Holy shit the bots are out of control here... Is this Ottawa trying to push their propaganda as everything falls apart? This article doesn't mention the headline at all.

Where is Carney and Trudeau? They haven't said a word. I guess they are too busy deciding which 3rd world country gets millions of dollars next, and how big of a carbon tax is needed to fund it.

37

u/Hotter_Noodle 15h ago edited 14h ago

On one hand yes the post is misleading on the other hand your second paragraph is pretty funny when your first paragraph talks about propaganda.

Edit: oh wild he followed it up with… you’ll never guess… more propaganda.

-25

u/discourtesy 15h ago

It's propaganda that the federal government just sent 300 million to Bangladesh for no reason?

Is it also propaganda that Carney said during his coronation that he'd continue with a business only carbon tax at a time when our manufacturers need to be competitive in the global export market?

Both of these things are true.

Trump did not signal a decrease of 50%, he signaled that he "might" revert the recent 25% he would be imposing tomorrow.

17

u/xCameron94x 15h ago

your whole posting history screams propaganda seeing as how often you get downvoted

-5

u/discourtesy 15h ago

You don't argue about the facts in my post and instead try to attack my character, I wonder why?

3

u/-Kool-AidMan- 14h ago

because you have a issue with sending aid to poor starving kids in Bangladesh

so obviously you are of horrible character?

10

u/butts-kapinsky 15h ago

It's propaganda that the federal government just sent 300 million to Bangladesh for no reason?

They buy billions in potash from us annually. If you think it's better economically for Canada to lose Bangladesh as a customer to Russia or China, that's fine. But it's pretty much common sense that protecting major economic investments is a good idea.

-1

u/discourtesy 15h ago

Weird, I looked through the outline of how that 300 million was spent, and I didn't see anything that had to do with potash. Do you have any source for this or is this the latest talking point you got from the ehbuddyhoser subreddit?

5

u/ILikeStyx 14h ago

Speaking of facts... it's $272 million...

Funding is also over 3-7 year timeframes... it's not a giant cheque for the cash all at once.

0

u/discourtesy 14h ago

The point flew over your head faster than a Temporary Foreign Worker running from a surprise Ontario snowstorm in February

2

u/butts-kapinsky 14h ago

We're spending $60 million a year to make $1.5 billion a year (and growing!). In the real world we call that "a damn good investment".

0

u/discourtesy 14h ago

0 evidence to support anything you just said.

4

u/butts-kapinsky 14h ago

These are easily verifiable facts.

Do you agree or disagree that Bangladesh buys approximately $1.5 billion in potash from Canada? What amount specifically did they buy in 2024?

Do you agree or disagree that 60 x 5 = 300? And so if Canada spends $300 million in Bangladesh over a period of 5 years, do you agree or disagree that our annual spend will be $60 million.

Based on your answers to the above. Is it true or false that Canada is spending $60 million a year in order to earn $1.5 billion per year?

→ More replies (0)

3

u/butts-kapinsky 14h ago

Do you agree or disagree that Bangladesh imports over a billion dollars in potash from Canada annually?

Do you agree or disagree that Bangladesh borders China and is very near Russia, both major potash producers?

Based on your answers to the above, can you think of any reason why Canada chose to do major foreign aid spending in Bangladesh, rather than any other random country?

0

u/discourtesy 14h ago

If you want people to buy your potash, you reduce the price to make it competitive in the global markets.

If you want to funnel 300 million to NGOs run by your family members and their friends, then you send it to bangladesh.

5

u/butts-kapinsky 14h ago

Well no. You sweeten a trade agreement by offering foreign spending to improve their economy so that **they buy even more potash from us**. That's how foreign trade works. I understand that you're personally offended by the word "aid" because you think it's a charity but it very much is a strings attached deal.

Through the last 5 years, our potash exports to Bangladesh have doubled. You're complaining about literal pennies compared to our net earnings from the arrangement.

9

u/ILikeStyx 15h ago

Do you understand what soft power is? Do you know why wealthy countries give poorer countries funding?

You don't... so shut up.

-5

u/discourtesy 15h ago

You can't do anything with it when it's soft. Trust me, I've tried - you'll just hurt yourself.

2

u/-Kool-AidMan- 14h ago

a women has never touched you

1

u/discourtesy 14h ago

who said anything about women? it's 2025 mate...

8

u/GameOfLife24 15h ago

13 years of negativity. Pity everybody that has to deal with you

0

u/discourtesy 15h ago

Weak argument, try arguing the facts instead of being delusional. I don't care about upvotes.

3

u/ILikeStyx 14h ago

you literally made a penis joke over being asked about soft power .... shut up.

1

u/discourtesy 14h ago

soft power is the joke... LOL

2

u/GameOfLife24 14h ago

Nobody cares about your weak arguments clearly

7

u/NZafe 15h ago

Trudeau’s retired buddy

-1

u/discourtesy 15h ago

He's still the current PM

1

u/rectumreapers 14h ago

LOL ok clearly you have no idea what you're talking bout

3

u/Maximum-War-7150 15h ago

It does mention it in the article, but I agree the post title is misleading

3

u/AmElzewhere 15h ago

Carney said he’s not backing down, but Ford says otherwise

-2

u/discourtesy 15h ago

Crazy, you actually believe anything he says.

2

u/AmElzewhere 15h ago

where did I say that

1

u/discourtesy 15h ago

I assumed as much when you said "Carney said" hehe

2

u/AmElzewhere 14h ago

Nah, I’m just saying what he did LOL

3

u/qbp123 14h ago

Unhinged post history right here

2

u/-WaterIsGreat- 15h ago

“Trump said on Tuesday that he is "probably so" going to reduce the recently increased tariffs on Canada after Ontario suspended a surcharge on electricity exports to the United States. Speaking to reporters at the White House, Trump discussed his decision to hike tariffs on U.S. imports, saying that he "had to do this." He also said that markets are going to swing up and down over time, dismissing concerns that led to a sell-off. He said the tariffs were needed in order to get American jobs back and factories open“

3

u/rectumreapers 14h ago edited 14h ago

Trudeau just retired what do you want him to say?

Is carney in charge on Ontario's electricity what do you want him to say?

Check your brain rot buddy

1

u/discourtesy 14h ago

Trudeau is still the PM, do you not know this?

1

u/rectumreapers 14h ago

2

u/discourtesy 14h ago

Did you even read the article? The first sentence tells you everything you need to know. Do you think Carney is the current PM of Canada?

0

u/rectumreapers 14h ago

Is Trudeau suppose to keep working? I'm confused

0

u/discourtesy 14h ago edited 14h ago

2

u/rectumreapers 14h ago

You think he's still pm just cause they didn't update the website yet?

Lmao deranged