Ontario premier says to suspend 25% electricity surcharge on US states

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00:00The US President Donald Trump and his planned tariffs on steel and aluminium products from

00:05Canada, they're set to rise now to 50%. Now this was in response to a Canadian financial penalty

00:12slapped on energy supply to three US states. The Ontario Premier Doug Ford vowing to maintain that

00:19electricity levy at 25% until US tariffs are removed. We have a development on this. Ford

00:25apparently now saying that his tariffs of 25% have now been taken away. So we await Trump's

00:32response. Of course this all began with Trump's original tariff of 25% on all Canadian goods.

00:39A sequence started by the US President led to a fall in the stock markets,

00:43also in the Canadian dollar. Since Trump took power on January 20th promising a golden age,

00:48the US has lurched closer and closer to recession. Economic observers say that Trump's tactics

00:53are very much to blame. Let's bring in our correspondent in Ottawa, Christopher Julie,

00:58to get more on this one. Christopher, a very good evening to you. Things moving quickly where you

01:02are. So just confirm for us where we are with the tariffs. Have Ontario taken away the energy

01:07tariffs or not? Give us some clarity please, sir. Sure. Suspended, not removed. So in two days,

01:15Doug Ford, the Premier of Ontario, will travel to Washington where he'll meet with Commerce

01:20Secretary Howard Lutnick to discuss steps going forward. The USMCA, the free trade deal between

01:26Canada, US, and Mexico is a renewal this year. And the reason why Donald Trump suspended a good

01:35chunk of the tariffs against Canada was to ensure that his measures were in compliance with that

01:40agreement. So on Thursday, there'll be a discussion about next steps on this electricity war,

01:47cross-border war. And we've yet to hear whether the 50% tariffs have been lifted on Canadian

01:55steel and aluminum. It is moving very quickly, isn't it? But what effect is it having on the

02:00economy? Obviously, we're reading that things are heading downwards in the US. How's Canada faring?

02:07Well, the stock markets on both sides of the border are down, as you know. Algoma Steel

02:14in the last hour began laying off workers in Canada. You're going to see that ripple effect

02:20crossing the border. It's important to remember that Donald Trump talked about

02:27slamming the Canadian auto manufacturing industry. Well, he seems to forget that it's a

02:31cross-border industry. So auto parts cross the border regularly in Canada. The US parts are

02:37made in Canada, parts are made in the United States. So if he shuts down the Canadian side,

02:42he's going to be shutting down the American side as well. And there will be layoffs in the US

02:47guaranteed. Christopher Julie in Ottawa, thank you very much indeed for bringing us up to date

02:51with the situation there and of course pointing out that what happens on one side of the border

02:55doesn't necessarily stay there. It's hurting both sides. And it has to be said, it all comes

03:00from Donald Trump's original tariffs that he decided to levy on Canada. Well, Wall Street

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