US President Donald Trump announced immediate suddenly 50% tariffs on chosen Canadian goods.

The targeted categories include steel, aluminum and lumber.

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

The the federal government responded with plans to counter.

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

Trade experts cautioned that the tariffs could escalating trade conflict.

The two nations hinted a willingness to negotiate a deal.