The premier of the Canadian province of Ontario is standing up for his people by placing a 25% charge on their electricity exported to the US states on Minnesota, Michigan and New York. It will load an average charge of $100 each month to power bills.
Tariffs are being misused, they're an ineffectual tool in this scenario. Tariffs can be effective in protecting existing industry, especially where industries are at risk of being swamped by cheap imports. Those cheap imports can be supported by subsidies from the exporting country, meaning a tariff is appropriate to level the playing field. But what Trump is saying he wants to do is revive industry. That will take years, maybe a decade or more, which just leaves consumers paying higher prices. It ends up being an exercise in self harm.
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