US President Donald Trump announced immediate suddenly 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 the federal government responded with plans to strike back.

The Canadian dollar fell 1.5% against the US dollar after the notice.

Trade experts signaled that the tariffs could broader trade conflict.

Washington and Ottawa suggested a willingness to negotiate a settlement.