U.S. tariffs on Canadian steel and aluminum are set to rise.
That's according to U.S. President Donald Trump, who announced on Friday he would double the import tax for all countries from 25 per cent to 50 per cent starting Wednesday.
"Our steel and aluminum industries are coming back like never before. This will be yet another big jolt of great news for our wonderful steel and aluminum workers," he said in a social media post.
Prime Minister Mark Carney has not publicly responded to the increase, however, Canada's Minister responsible for Canada-U.S. Trade has. Dominic LeBlanc took to social media to share that the federal government is aware of the announcement by Trump.
"As we negotiate a new economic and security relationship with the United States, Canada’s new government will stand strong to get the best deal for Canadians," said LeBlanc.
He also explained that the federal government continues to focus on getting all the provinces and territories working together to improve the country's economy. LeBlanc mentioned that Carney will also be meeting with Premiers on Monday in Saskatoon.
It's not known at this time how or if the federal government will respond to the increased tariffs. The previous federal government, under Prime Minister Justin Trudeau, introduced 25 per cent tariffs on $29.8 billion worth of American goods when the tax on steel and aluminum was first brought in.