Trump’s steel tariffs: Canada says it will hit back with $20.7 billion in tariffs

The European Union has also announced retaliatory trade action with new duties on US industrial and farm products

TORONTO: Canada will announce Canadian $29.8 billion ($20.7 billion) in retaliatory tariffs in response to the 25% steel and aluminum tariffs that US President Donald Trump has leveled, a senior Canadian government official said Wednesday.

The official spoke on condition of anonymity because they weren’t authorised to speak before the announcement.

The European Union on Wednesday also announced retaliatory trade action with new duties on US industrial and farm products, responding within hours to the Trump administration’s increase in tariffs on all steel and aluminum imports to 25%.

Canada is the largest foreign supplier of steel and aluminum to the US.