Canada hits U.S. with dollar-for-dollar retaliation for Trump’s steel and aluminum tariff.

Canada hits U.S. with dollar-for-dollar retaliation for Trump’s steel and aluminum tariffs

Canada is levelling reciprocal dollar-for-dollar tariffs on U.S. steel and aluminum imports, in response to U.S. President Donald Trump’s 25 per cent tariffs on all steel and aluminum imports that came into effect today.

The federal government’s countermeasures will come into effect at 12:01 a.m. on March 13. The 25 per cent tariffs will hit steel products worth $12.6 billion and aluminum products worth $3 billion.

In addition, Canada is hitting another $14.2 billion worth of imported U.S. goods with fresh tariffs, totalling $29.8 billion in retaliation.

“The U.S. administration is once again inserting disruption and disorder into an incredibly successful trading partnership and raising the costs of everyday goods for Canadians and American households alike,” said Finance Minister Dominic LeBlanc.

LeBlanc said the federal government learned on Tuesday that the latest U.S. tariffs would also be imposed on steel and aluminum content in certain derivative products, and officials on this side of the border are assessing this and readying a further tariff response if warranted.

“We will not stand idly by while our iconic steel and aluminum industries are being unfairly targeted,” the minister continued, announcing the package alongside Foreign Affairs Minister Melanie Joly and Industry Minister Francois-Philippe Champagne