Canada will announce $29.8 billion in retaliatory tariffs in response to the 25 per cent steel and aluminum tariffs that U.S. President Donald Trump has leveled, a senior Canadian government official said Wednesday.
The official spoke on the condition of anonymity because they weren’t authorized to speak before the announcement.
Finance Minister Dominic LeBlanc, Foreign Affairs Minister Melanie Joly and Industry Minister Francois-Philippe Champagne will outline Canada’s response at a news conference on Parliament Hill this morning.
Canada is the largest foreign supplier of steel and aluminum to the U.S.
The latest move in Trump’s plan to realign global trade came into force today as all countries, including Canada, were hit with 25 per cent tariffs on steel and aluminum imports into the United States.
The president’s executive order went into place at 12:01 a.m. ET. It removes the exceptions and exemptions from Trump’s 2018 tariffs on steel and aluminum, which eventually excluded Canada and other countries from the duties.
The latest levies came into force hours after the White House confirmed Trump would not follow through on Tuesday’s threats to double tariffs on Canadian steel and aluminum after Ontario agreed to pause a surcharge on electricity exports to the U.S.
LeBlanc is scheduled to travel to Washington on Thursday with Ontario Premier Doug Ford and meet with Commerce Secretary Howard Lutnick.
European Commission President Ursula von der Leyen said on Wednesday that as the United States is “applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros,” or about $28 billion. The commission manages trade and commercial conflicts on behalf of the 27 member countries.
With files from The Associated Press
