US President Donald Trump announced immediate abruptly 50% tariffs on specific Canadian goods.

The impacted categories include steel, aluminum and lumber.

The the Treasury office said the move aims to safeguard domestic producers and reduce Canada’s trade surplus.

The Ottawa’s government responded with plans to counter.

The Canadian dollar dropped 1.5% against the US dollar after the statement.

Trade experts signaled that the tariffs could escalating trade conflict.

Both sides indicated a willingness to negotiate a agreement.