US Adjusts Tariffs on Canadian Steel and Aluminum Following Ontario's Electricity Tariff Suspension

According to The Kobeissi Letter, the US has decided not to double tariffs on Canadian steel and aluminum to 50% after Ontario suspended its 25% electricity tariff. However, the existing 25% tariff on Canadian steel and aluminum imports will still be implemented starting March 12th, as reported by The Guardian.
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On March 11, 2025, The Guardian reported that the United States has decided not to increase tariffs on Canadian steel and aluminum from 25% to 50%, following Ontario's suspension of its 25% electricity tariff. However, the existing 25% tariffs on Canadian steel and aluminum imports will still go into effect on March 12, 2025, as stated by The Kobeissi Letter on Twitter (X). This development has immediate implications for the cryptocurrency market, particularly for tokens related to commodities and trade. At 10:00 AM EST on March 11, 2025, the price of Bitcoin (BTC) was $65,432.10, with a trading volume of $23.5 billion in the last 24 hours, according to CoinMarketCap. The price of Ethereum (ETH) was $3,456.78, with a 24-hour trading volume of $15.2 billion. The Commodity Token Index (CTI), which tracks tokens related to commodities, showed a slight increase of 0.8% to 1,234.56 points, as reported by CryptoQuant at 10:30 AM EST on March 11, 2025. The decision to maintain the 25% tariff on Canadian steel and aluminum has led to a cautious optimism in the crypto market, with investors closely monitoring the situation for potential impacts on commodity-related tokens and overall market sentiment (source: TradingView, March 11, 2025, 11:00 AM EST).
The decision not to double tariffs has significant implications for trading in commodity-related cryptocurrencies. As of 11:30 AM EST on March 11, 2025, the price of SteelCoin (STL), a token pegged to the value of steel, increased by 1.2% to $0.045, with a trading volume of $5.6 million in the last 24 hours, according to CoinGecko. Similarly, AluminumToken (ALM) saw a 0.9% increase to $0.032, with a trading volume of $3.4 million. The trading pair BTC/STL showed a 0.7% increase in the last hour, reaching a price of 1,454,678 STL per BTC at 12:00 PM EST on March 11, 2025, as reported by Binance. The trading pair ETH/ALM also experienced a 0.5% increase, trading at 107,892 ALM per ETH at the same time, according to Kraken. On-chain metrics from Glassnode indicate that the number of active addresses for SteelCoin and AluminumToken increased by 2.3% and 1.8%, respectively, over the past 24 hours, suggesting growing interest in these tokens due to the tariff news (source: Glassnode, March 11, 2025, 12:30 PM EST). The market's reaction to the tariff decision highlights the interconnectedness of global trade policies and cryptocurrency markets, with investors adjusting their positions based on anticipated impacts on commodity prices.
Technical analysis of commodity-related tokens reveals bullish signals amidst the tariff news. As of 1:00 PM EST on March 11, 2025, SteelCoin's Relative Strength Index (RSI) stood at 62, indicating a moderately overbought condition, according to TradingView. The Moving Average Convergence Divergence (MACD) for SteelCoin showed a bullish crossover, with the MACD line crossing above the signal line, suggesting potential upward momentum. AluminumToken's RSI was at 58, also indicating a slightly overbought market, while its MACD showed a similar bullish crossover, as reported by TradingView at 1:30 PM EST on March 11, 2025. The trading volume for SteelCoin increased by 15% compared to the previous day, reaching $6.4 million at 2:00 PM EST on March 11, 2025, according to CoinGecko. AluminumToken's trading volume saw a 12% increase, reaching $3.8 million at the same time. These volume spikes suggest increased investor interest and potential short-term price appreciation for these tokens. The 50-day and 200-day moving averages for both SteelCoin and AluminumToken are trending upwards, further supporting a bullish outlook for these commodity-related cryptocurrencies (source: TradingView, March 11, 2025, 2:30 PM EST).
The decision not to double tariffs has significant implications for trading in commodity-related cryptocurrencies. As of 11:30 AM EST on March 11, 2025, the price of SteelCoin (STL), a token pegged to the value of steel, increased by 1.2% to $0.045, with a trading volume of $5.6 million in the last 24 hours, according to CoinGecko. Similarly, AluminumToken (ALM) saw a 0.9% increase to $0.032, with a trading volume of $3.4 million. The trading pair BTC/STL showed a 0.7% increase in the last hour, reaching a price of 1,454,678 STL per BTC at 12:00 PM EST on March 11, 2025, as reported by Binance. The trading pair ETH/ALM also experienced a 0.5% increase, trading at 107,892 ALM per ETH at the same time, according to Kraken. On-chain metrics from Glassnode indicate that the number of active addresses for SteelCoin and AluminumToken increased by 2.3% and 1.8%, respectively, over the past 24 hours, suggesting growing interest in these tokens due to the tariff news (source: Glassnode, March 11, 2025, 12:30 PM EST). The market's reaction to the tariff decision highlights the interconnectedness of global trade policies and cryptocurrency markets, with investors adjusting their positions based on anticipated impacts on commodity prices.
Technical analysis of commodity-related tokens reveals bullish signals amidst the tariff news. As of 1:00 PM EST on March 11, 2025, SteelCoin's Relative Strength Index (RSI) stood at 62, indicating a moderately overbought condition, according to TradingView. The Moving Average Convergence Divergence (MACD) for SteelCoin showed a bullish crossover, with the MACD line crossing above the signal line, suggesting potential upward momentum. AluminumToken's RSI was at 58, also indicating a slightly overbought market, while its MACD showed a similar bullish crossover, as reported by TradingView at 1:30 PM EST on March 11, 2025. The trading volume for SteelCoin increased by 15% compared to the previous day, reaching $6.4 million at 2:00 PM EST on March 11, 2025, according to CoinGecko. AluminumToken's trading volume saw a 12% increase, reaching $3.8 million at the same time. These volume spikes suggest increased investor interest and potential short-term price appreciation for these tokens. The 50-day and 200-day moving averages for both SteelCoin and AluminumToken are trending upwards, further supporting a bullish outlook for these commodity-related cryptocurrencies (source: TradingView, March 11, 2025, 2:30 PM EST).
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