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 thinking 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, or at least that’s what he told the WSJ.

Quebec, Manitoba and British Columbia also have large electricity exports to the US and Trudeau today highlighted potential non-tariff responses.

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.

“He’s going to wake up real quickly about our critical minerals,” Ford told the WSJ.

I would like to see the actual statement from Ford to truly clarify if he was going to do this now or if it was still a threat. The headline from the report is ‘Ontario to Slap Export Tax on Electricity to U.S.’ and it’s a short report that doesn’t quote him saying he will do it or when.

Update: My suspicions were well-founded as how now says that “if the tariffs persist” he will apply the tariffs.

Ford now says that all US companies will be banned from taking part in provincial procurement. He also once again said he was ripping up a government contract with Starlink.

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