Ontario to place 25% export tariff on electricity, threatens total cutoff

The Premier of the Canadian province of Ontario has been talking a big game on retaliatory tariffs. He won a third consecutive election last week and there was some thought that his tough talk was electioneering.

That doesn’t appear to be the case as he’s now placing a 25% export tax on electricity that leaves Ontario for the United States, he told the WSJ. Quebec, Manitoba and British Columbia also have large electricity exports to the US.

Ford added that he will direct the province’s energy producers to shut down the exports entirely if Trump moves ahead with even more tariffs on April 2. He’s also threatened to cut off nickel exports.

This article was written by Adam Button at www.forexlive.com.