Shared celebrations and hockey rivalries give way to ‘Buy Canadian’ labels as International Falls and Fort Frances face an unexpected chill
CBS Minnesota on MSN2d
How Canada’s proposed energy tariff could impact MinnesotansMinnesota, along with Michigan and New York, are at risk of getting slapped with a 25% surcharge for electricity from Ontario.
Ontario's leadership threatened with an additional surcharge for electricity they export to a few neighboring U.S. states.
However, the company gets 11% of its power from neighboring Manitoba, which would be exposed to the Trump administration's 10% tariff on electricity imports into Canada.
Ontario Premier Doug Ford said that his province is prepared to add a 25% surcharge on the electricity it exports to Michigan.
Tariffs from the Trump administration are set to go in effect on Tuesday. Canada and Minnesota do over $21 billion in trade every year.
Economist John Spry predicts with the new Trump tariffs, the price is going up. “Roughly $100 a month more for the stuff you buy for as long as they’re in effect,” explains Spry, a finance professor at the University of St. Thomas. “These are big tariffs: 25% on everything from Canada and Mexico, except for a lower 10% on energy.”
Minnesota companies were assessing the damage Tuesday of the nascent trade war between the United States and its three biggest trade partners, an escalating tit-for-tat that could affect billions of dollars in state imports and exports.
Some results have been hidden because they may be inaccessible to you
Show inaccessible results