Trump’s 25% tariffs on steel and aluminum begin; Canada joins Europe with $20bn retaliation: Live updates

Sen. Jean Shaheen of New Hampshire, one of the most senior Democrats, announced on Wednesday that she would not seek re-election in 2026.

Shaheen’s decision comes amid a wave of Democratic senators announcing they would not seek re-election in what they expect to be a good midterm election for the party.

“It’s just time,” she said. “While I’m not seeking re-election, believe me, I’m not retiring.”

Shaheen, who is 78, is the third Democratic senator to announce that she would not seek re-election. Last month, Sen. Gary Peters of Michigan, who is 66, and Sen. Tina Smith, who is 67, both announced they would not seek re-election.

New Hampshire has not voted for a Republican Senator since it elected Kelly Ayotte, who became governor last year, in 2010. But Kamala Harris won New Hampshire by a smaller margin than Joe Biden did in 2020. The news likely means that a primary will blow wide open.

Democrats faced a crisis last year when many voters thought Biden was too old to run for president, which culminated in his disastrous debate performance in July. Numerous senators have stayed even as they face deteriorating health, most recently Sen. Dianne Feinstein of California, who died in office in 2023.

Senator Tom Cotton has responded to allegations he blocked the release of files related to the assassination of President John F. Kennedy.

Here’s how he responded:

Canada will impose C$29.8 billion in retaliatory tariffs on the United States starting Thursday morning, in response to U.S. President Donald Trump’s steel and aluminum tariffs, according to Canada’s Finance Minister Dominic LeBlanc.

Trump’s increased tariffs on steel and aluminum imports took effect on Wednesday, as previous exemptions, duty-free quotas, and product exclusions expired, and his campaign to reshape global trade norms in favor of the U.S. continues to gain momentum.

Canada is the largest foreign supplier of steel and aluminum to the United States.

Canada’s retaliation targets steel products valued at C$12.6 billion and aluminum products worth C$3 billion, along with additional imported U.S. goods totaling C$14.2 billion, bringing the overall total to C$29.8 billion.

Products impacted by Canada’s counter-tariffs include computers, sports equipment, and cast iron products, LeBlanc said at a news conference.

The escalation of the U.S.-Canada trade war coincided with Prime Minister Justin Trudeau’s preparations to hand over power this week to his successor, Mark Carney, who won the leadership race for the ruling Liberals on Sunday.

On Monday, Carney said he could not speak with Trump until he was sworn in as prime minister. Trump again took to social media, expressing his desire for Canada “to become our cherished Fifty-First State.”

With reporting from Reuters

Steve Bannon loves talking. In fact, he can’t stop. The Trump whisperer has laid out a plan behind the abandonment of Ukraine, namely for the United States to make a deal with Russia and turn to its real enemy, China. While Beltway think-tankers apply their fine minds to the puzzle of the Trump administration’s diplomacy, Bannon has cheerfully taken to the airwaves, most recently on the podcast of Tim Dillon, a stand-up comedian, to explain it to the little guy.

The latest Economist/YouGov poll shows that the majority of Americans (and by 14 points) believe that Ukrainian President Volodymyr Zelensky was not disrespectful to President Donald Trump during their disastrous Oval Office meeting at the end of February.

Further, a majority (by 22 points) believe that it was Trump who was disrespectful to Zelensky…

New Hampshire Democratic Senator Jeanne Shaheen will not run for re-election in 2026.

Her decision means Democrats will fight open Senate seats in New Hampshire, Michigan, and Minnesota.

U.S. consumer prices rose less than anticipated in February, but this improvement is likely temporary due to aggressive tariffs on imports that are expected to increase the costs of most goods in the coming months.

The consumer price index climbed 0.2% last month after a 0.5% rise in January, as reported by the Labor Department’s Bureau of Labor Statistics on Wednesday.

In the 12 months leading up to February, the CPI increased by 2.8%, following a 3.0% rise in January. Economists surveyed by Reuters had predicted a 0.3% increase in the CPI and a year-on-year advancement of 2.9%.

The first full inflation report of President Donald Trump’s administration still showed prices running at levels that economists believe are inconsistent with the Federal Reserve’s 2% target.

The White House is taking a victory lap off the back of today’s figures:

With reporting from Reuters

But while the prime minister suggested Britain wants to seek a carve-out from the tariffs without engaging in a tit-for-tat trade war with the U.S., Sir Keir indicated retaliatory tariffs are being considered.

The Independent’s Westminster political team report.

Wall Street’s main indexes opened higher on Wednesday after data showed cooling inflation, although concerns about the economic impact of U.S. President Donald Trump’s trade policies tempered optimism.

The Dow Jones Industrial Average rose 144.0 points, or 0.35%, at the open to 41,577.5. The S&P 500 rose 52.8 points, or 0.95%, at the open to 5,624.84​, while the Nasdaq Composite rose 275.3 points, or 1.58%, to 17,711.41 at the opening bell.

“Domestic producers cannot keep up with demand, the price is going up,” says Fox Business host Stuart Varney.