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

The impacted categories include steel, aluminum and lumber.

The the Treasury said the move aims to defend domestic producers and shrink 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 notice.

Economists alerted that the tariffs could expanding trade conflict.

Washington and Ottawa suggested a willingness to negotiate a settlement.