Canada is set to announce retaliatory tariffs worth 29.8 billion Canadian dollars ($20.7 billion) in response to the 25% tariffs imposed by US President Donald Trump on steel and aluminum imports, a senior Canadian government official said Wednesday, reported AP.The official confirmed that the Canadian government would take decisive trade action following the US move.
The announcement comes as trade tensions escalate globally. Earlier on Wednesday, the European Union also unveiled its own retaliatory measures, slapping new duties on US industrial and agricultural products.
The EU’s response was swift, coming just hours after the Trump administration’s decision to impose a 25% tariff on all steel and aluminum imports.Canada, which is the largest foreign supplier of steel and aluminum to the US, has been a key target of the White House’s aggressive trade policies. The Canadian government’s countermeasures mark a significant step in the ongoing trade dispute between the two close allies.
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