US President Donald Trump has recently announced a significant increase in tariffs on Canadian steel and aluminum imports to 50%. This move comes in response to Ontario’s electricity price hikes, which the Trump administration believes have put American businesses at a disadvantage. The decision has had immediate repercussions, with the US stock market experiencing a notable decline. This has raised concerns among experts about the possibility of an economic slowdown and potential recession risks. Economists are cautioning about the impact on inflation and growth, while the White House is highlighting the importance of job creation and encouraging factory investments within the United States. The escalation of trade tensions between the US and Canada is likely to have far-reaching consequences, affecting businesses and consumers on both sides of the border. Stay tuned for further developments on this story.