Canada announced $21 billion in new tariffs against the U.S. on Wednesday after President Donald Trump’s new 25% tariffs on steel and aluminum went into effect.
Canada is the biggest foreign supplier of steel and aluminum to the U.S.
“Today, I am announcing that the government of Canada, following a dollar-for-dollar approach, will be imposing, as of 12:01 a.m. tomorrow, March 13, 2025, 25% reciprocal tariffs on an additional $29.8 billion of imports from the United States,” Canadian Finance Minister Dominic LeBlanc said. “This includes steel products worth $12.6 billion and aluminum products worth $3 billion as well as additional imported U.S. goods worth $14.2 billion.”
“The list of additional products affected by counter-tariffs includes computers, sports equipment, and cast iron products as examples,” he continued.
“We will not stand idly by while our iconic steel and aluminum industries are being unfairly targeted,” LeBlanc added, according to the CBC.
President Donald Trump’s 25% tariff increase on all steel and aluminum imports officially took effect on Wednesday, the latest move in the administration’s plans to reshape global trade norms in favor of U.S. manufacturing.
The action prompted retaliation from the European Commission, which announced shortly after Trump’s tariffs took effect that it would impose counter tariffs on the equivalent of $28 billion worth of U.S. goods starting next month.
“We regret the unjustified US 25% tariff on steel and aluminium imports. The EU will protect its consumers and businesses,” the Commission said in a statement. “We are launching swift, proportionate countermeasures worth up to ($28 billion), matching the economic impact of the US tariffs.”
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