US Gold and Aluminum Stocks Jumped. GORO and VGZ up 10%, CENX up 9%
US Gold and Aluminum Stocks Jumped. GORO and VGZ up 10%, CENX up 9%
President Donald Trump on Tuesday doubled his planned tariff on all steel and aluminum products coming into the United States from Canada, bringing the total to 50%, in response to the province of Ontario placing a 25% tariff on electricity coming into the U.S.
Trump said in a post on Truth Social he has instructed his commerce secretary to add an additional 25% tariff on the products that will go into effect on Wednesday morning.
"Also, Canada must immediately drop their Anti-American Farmer Tariff of 250% to 390% on various U.S. dairy products, which has long been considered outrageous. I will shortly be declaring a National Emergency on Electricity within the threatened area," Trump wrote.
He also threatened to "substantially increase" tariffs on cars coming into the United States on April 2 "if other egregious, long time Tariffs are not likewise dropped by Canada."
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