President Donald Trump's decision to double tariffs on steel and aluminum imports to the U.S. from 25% to 50% has sent shockwaves through Canada, the U.S.'s largest trading partner in this sector.

Quebec Premier François Legault said he is monitoring the situation after U.S. President Donald Trump announced his intention to double the tariffs on steel and aluminum imports to 50 per cent next Wednesday.

The move to increase tariffs drew swift criticism from Canadian officials and industry leaders, who said the tariffs threaten to devastate a sector already under strain from earlier trade measures

U.S. President Donald Trump’s heightened tariffs on steel and aluminum coming into his country will “create mass disruption and negative consequences,” Canada’s steel industry warns. Trump said on Friday that he will double the tariffs on steel and aluminum imports to 50 per cent.

Trump and his aides have repeatedly shifted their stance on tariffs in the weeks since the president’s “Liberation Day” announcement.

If the tariffs had taken effect as planned, the per-unit cost of a home might have increased by as much as $29,000. In a sector characterized by thin margins, that would have meant a lot of idle construction sites.

The USD/CAD exchange rate has crashed this year as the US dollar index (DXY) has plunged from $110 earlier this year to $99. It has dropped from 1.4790 on February 3 to the current 1.3738. Canadian economy at risk amid Trump steel tariffs The USD/CAD pair retreated on Friday as investors remained concerned about the trade relations between the US

Donald Trump's wavering on tariffs and admission that he has not been able to bring the war in Ukraine to a halt is a sign he's finding out that world leaders are increasingly not taking him seriously.

President Donald Trump has announced a plan to double tariffs on steel imports to the United States, raising the levy from 25% to 50%. Similar increases are mentioned for aluminum imports.

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President Trump announced Friday that he would double tariffs on imported steel to 50% following a pair of court rulings that left many of his signature duties in limbo. “At 25%, they can sort of get over that fence.