Trump walks back latest tariff threat, plays down recession talkPresident Donald Trump dialed back his latest trade-war threat against Canada hours after making it, while downplaying the risk of a tariff-led recession that’s sent US markets into a nosedive.
Trump’s roller-coaster day saw him threaten to double duties on Canadian steel and aluminum to 50% after Ontario announced plans to place a surcharge on electricity sent to the US,only to retreat back to plans for his previously announced 25% rate after the provincial government backed down.