U.S. President Donald Trump said Thursday that he is going to put tariffs on steel and aluminum from every other country, an act that could cause significant harm to Canadian producers, raise prices for U.S. consumers and prompt an escalating round of international retaliation.
The retaliation threats began immediately. Calling the tariffs “absolutely unacceptable,” Foreign Affairs Minister Chrystia Freeland promised “responsive measures” if Canada does not get a last-minute exemption. The European Union said it would propose “countermeasures” this week.
Trump’s move fulfills the protectionist trade rhetoric of his campaign, and it may prove popular in Rust Belt states key to his victory. But it is opposed by most business groups, senior Republican legislators, and many of his own top advisers.