‘Lights out!’ Trump’s trade war means higher utility bills in these 3 U.S. states
Lights out? Higher electric bills in three U.S. states?
Yes and yes, according to Doug Ford, Canada’s Premier of Ontario, who says despite President Donald Trump‘s temporary freeze on increased tariffs that he’s pushing forward reciprocatory price hikes.
That means people living in Michigan, New York and Minnesota will likely have to reach deeper into their wallets to pay their utility bills.
“I start off every interview with saying Canadians love Americans. I love Americans,” Ford said during a interview on Fox Business.
“No, we’re going to put a 25% tariff on electricity coming from Ontario to Michigan, New York and Minnesota, and isn’t this a shame? It’s an absolute mess. He’s created chaos,” he said.
“People are going to be losing their jobs in the U.S. and in Canada, and inflation is happening already. If there’s one thing the market doesn’t like is uncertainty. The market is going downhill quicker than the American bobsled team.”
Ahead of the interview, Fox played a clip where Ford stated: “I will do everything, including cut off their energy — with a smile on my face.”
Trump on Thursday postponed 25% tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war.
The White House insists its tariffs are about stopping the smuggling of fentanyl, but the taxes proposed by Trump have caused a gaping wound in the decades-old North American trade partnership. Trump’s tariff plans have also caused the stock market to sink and alarmed U.S. consumers.
In addition to his claims about fentanyl, Trump has insisted that the tariffs could be resolved by fixing the trade deficit. He emphasized while speaking in the Oval Office that he still plans to impose “reciprocal” tariffs starting on April 2.
“Most of the tariffs go on April the second,” Trump said before signing the orders. “Right now, we have some temporary ones and small ones, relatively small, although it’s a lot of money having to do with Mexico and Canada.”
The Associated Press contributed to this report.