U.S. President Donald Trump announced a major increase in tariffs on steel imports, raising them to 50% to protect American steelworkers. Speaking at a US Steel facility in Pennsylvania, Trump emphasized the need to secure the steel industry in the United States.

The announcement follows earlier tariffs that sparked retaliation from Canada and concerns from the U.S. auto industry.

Canadian businesses and policymakers will be closely monitoring the impact of these new tariffs on trade relations and the steel industry.