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Amid Recession Fears, Dow Plummets, Nasdaq Has Worst Day Since 2022

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Ontario imposes a 25% electricity surcharge on U.S. exports in response to Trump's tariff war, escalating trade tensions. Follow Newsweek's live blog.
The article discusses the economic repercussions of former U.S. President Donald Trump's tariffs on Canadian exports, particularly focusing on Ontario's response. In retaliation to these tariffs, Ontario has decided to impose a 25% surcharge on electricity rates for large industrial users starting January 1, 2023. This measure aims to offset the costs incurred by the province due to the trade dispute with the U.S. The surcharge will affect industries like steel and aluminum, which were directly targeted by Trump's tariffs. The article also provides live updates on the situation, detailing reactions from businesses, potential impacts on employment, and discussions on how this might influence future trade negotiations between Canada and the U.S. Additionally, it touches on the broader implications for the North American trade relationship and the ongoing adjustments in trade policies.

Read the Full Newsweek Article at:
[ https://www.msn.com/en-us/money/companies/trump-s-tariffs-prompt-ontario-to-impose-25-electricity-surcharge-live-updates/ar-AA1ABOh0 ]