This Canadian official warns Trump tariffs will ‘devastate’ US economy, put Americans out of work — threatens to hit back ‘twice as hard’ by cutting off electricity. Are you prepared?

“If they want to try to annihilate Ontario, I will do everything, including cut off their energy — with a smile on my face,” Ford declared during a mining conference in Toronto on Monday. “They rely on our energy, they need to feel the pain. They want to come at us hard? We’re going to come back twice as hard.”

Trump announced a one-month delay on the 25% tariffs for imports from Mexico and Canada covered by the USMCA free trade agreement. But Ford isn’t backing down.

Later that same day, he told CNN that Ontario will impose a 25% surcharge on power it sends to 1.5 million homes in Minnesota, Michigan and New York starting next week, in response to Trump’s tariff plan.

However, Trump announced he may impose new tariffs on lumber and dairy products coming from Canada sometime in the future.

While Trump has called tariff “the most beautiful word in the dictionary,” Ford warns that the economic consequences will be severe.

“Donald Trump’s tariffs are going to devastate the U.S. economy, put Americans out of work and raise costs for hardworking American families,” Ford wrote in a post on X.

Will the market plunge ‘faster than the American bobsled team’?

Stock markets have already taken a hit amid tariff concerns, and according to Ford, the worst may still be ahead.

“The market is speaking loud and clear, the market is going to go downhill faster than the American bobsled team,” he warned in a recent interview with CNN.

Even some of Trump’s own supporters are sounding the alarm about the economic fallout.

Economist Peter Schiff, who backed Trump during the election, has criticized the president’s stance on trade deficits, calling it “all wrong.” He argues that without Canadian imports, prices “would go way up” for U.S. consumers.

Protect your purchasing power — and your portfolio

With markets reeling, inflation eroding purchasing power and trade war uncertainty looming, investors are searching for ways to safeguard their wealth.

Schiff suggests turning to a time-tested hedge — gold.

Gold is often considered the go-to safe haven asset. The precious metal can’t be printed out of thin air like fiat money, and because it’s not directly tied to any single currency or economy, investors often flock to it during periods of economic turmoil or geopolitical uncertainty, driving up its value.

Over the past year, gold has surged 34%, recently surpassing $3,100 per ounce. And according to Schiff, the rally is far from over.

“If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing — it’s the value of the dollar that’s decreasing,” he predicted last October.

These days, you don’t even have to go to a bullion shop to buy precious metals. There are plenty of online platforms that offer a wide selection of gold and silver bars and coins and fair pricing.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

A tangible hedge with passive income

In addition to gold, real estate serves as another time-tested hedge against inflation — with the added benefit of generating income.