From the New York Times

President Trump said in a social media post on Tuesday morning that he would impose an additional 25 percent tariff on Canadian steel and aluminum, doubling the levies he planned to put in place on Wednesday, and reiterated his notion that Canada should be part of the United States. He framed such an outcome as inevitable: “The artificial line of separation drawn many years ago will finally disappear,” he wrote. 

Market uncertainty: Investors were struggling to understand Mr. Trump’s trade policies as he announced the heavier tariffs, which he described as a response to surcharges on electricity generated in Canada and used by U.S. customers. The S&P 500 was down again a day after Wall Street turned in its worst performance of 2025, spooked by Mr. Trump’s refusal to rule out the possibility his policies could trigger a recession.

This is a developing story. Expect updates

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