Ontario Hikes Electricity Prices on US Amid Trade War; China Tariffs on US Farm Goods Take Effect

Ontario, Canada's most populous province, increased electricity prices by 25% for 1.5 million American consumers in Minnesota, New York, and Michigan, effective Monday. Premier Doug Ford cited President Trump's trade war as the reason. Ford stated he would consider a complete electricity shut-off if the U.S. escalates the situation. This surcharge is projected to generate CA$300,000 to CA$400,000 daily, allocated to support Ontario workers, families, and businesses. It adds approximately CA$100 monthly to affected American bills. This action supplements existing retaliatory tariffs on various U.S. goods. Ford urged Alberta to consider an export tax on oil. Simultaneously, China's tariffs on select U.S. agricultural products went into effect, impacting goods like chicken, wheat, corn, and soybeans.