Main PageMarch 11, 2025

Ontario’s Ford agreed to suspend it 25% surcharge on exports of electricity

Ontario’s Premier Ford is saying:

  • Agreed to suspend its 25% surcharge on exports of electricity to Michigan, New York, and Minnesota.
  • Added that he will be meeting with US commerce Sec. Lutnick on Thursday to further discuss the renewal of USMCA agreement ahead of the deadline on April 2
  • Cooler heads need to prevail.
  • Ottawa will respond dollar for dollar if US increases steel and aluminum tariffs.
  • By no means are we just going to rollover, what we are going to do is have a constructive conversation with US

US stocks have moved higher with the NASDAQ index now up 140 points or 0.80% at 17614.

The USDCAD has moved back to the downside and is back below its 200 hour moving average and testing the 38.2% retracement of the move up from the February low, and the low for the day.

This article was written by Greg Michalowski at www.forexlive.com.