Trump doubles tariffs on Canadian steel and aluminum to 50%, US market slumps as recession fears grow

Quick Summary:

US President Trump increased tariffs on Canadian steel and aluminum imports to 50%, citing Ontario's electricity price hikes.

The decision led to a drop in the US stock market, sparking concerns about economic slowdown and recession risks.

Economists warn of inflation and growth challenges, while the White House emphasizes job creation and factory investments in the US.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaBrazilCanadaChinaSouth KoreaMexicoUnited States

Topics: Trade tensions Trump tariffs Canada steel aluminum tariffs Economic slowdown Stock market decline US recession fears Donald Trump Recession Job creation in US Goldman Sachs US growth forecast

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-11 @ 23:02:06 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1044 words

Reading Time: 6 minutes read

Sentences: 39 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 26895472

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

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Year Established: 1838

Headquarters: India

News Last Updated: 46 minutes ago

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Publisher ID: #28

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