OAN Staff Alicia Summers
5:13 PM – Tuesday, March 11, 2025
The stock market took another hit today, with President Trump responding by threatening to raise tariffs on Canadian aluminum and steel by 25%, potentially reaching 50% starting Wednesday. This comes after Ontario’s 25% tariff on electricity delivered to the U.S. Trump frames the tariffs as a strategy to rebuild the economy, aiming to eliminate unfair trade deals, bring jobs back to America, and address national security issues like the flow of fentanyl. While his “America First” approach might cause short-term pain, the goal is long-term gain. The question remains whether this will pay off, especially as investors grow frustrated over tariff uncertainty. Anthony Saccaro, President of Providence Financial and Insurance Services, weighed in, acknowledging that trade wars typically involve both sides raising the stakes. He stressed that Trump’s “Art of the Deal” strategy could ultimately benefit America, but it’s unclear how long this process will take. With concerns about a potential recession and a looming government shutdown, Trump’s economic transition could shape the long-term outlook, despite the turbulence.