Trump also plans to impose new tariffs to match the rates charged by other countries. Set to begin as soon as April, the tariffs could be higher than what other countries would charge as subsidies, regulatory barriers and the value added tax — which is akin to a sales tax common in Europe — would be included in the calculations.

US President Donald Trump has enacted a new 25% tariff on steel and aluminum imports, a move affecting all countries worldwide. This major shift in policy is expected to have a particularly harsh impact on Canada, eliciting sharp critiques from Canadian leaders.

President Donald Trump’s tariffs on aluminum and steel imports are mostly driven by concerns that China is glutting global markets and hurting U.S. manufacturing, a former trade adviser to the White House said.