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

The targeted categories include steel, aluminum and lumber.

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

The Canada’s government responded with plans to counter.

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

Trade experts signaled that the tariffs could escalating trade conflict.

Both sides indicated a willingness to negotiate a deal.